Published on 2/18/2015 in the Prospect News Municipals Daily.
New Issue: Forsyth County Water, Ga., brings to market $75.67 million revenue debt
By Sheri Kasprzak
New York, Feb. 18 – The Forsyth County Water and Sewerage Authority of Georgia sold $75,665,000 of series 2015 refunding and improvement revenue bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through Citigroup Global Markets Inc.
The bonds are due 2016 to 2036 with term bonds due in 2041 and 2044. The serial coupons range from 3% to 5% with 0.21% to 3.01% yields. The 2041 bonds have a 5% coupon priced at 119.582 to yield 2.76%, and the 2044 bonds have a 5% coupon priced at 119.291 to yield 2.79%.
Proceeds will be used to finance improvements, extensions and additions to the county’s water and sewer system, as well as to refund a portion of the authority’s series 2005A and 2007 revenue bonds.
| Issuer: | Forsyth County Water and Sewerage Authority
|
| Issue: | Series 2015 refunding and improvement revenue bonds
|
| Amount: | $75,665,000
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc. (lead)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Feb. 6
|
| Settlement date: | March 4
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.82 million | 2016 | Serial | 3% | 102.994 | 0.21%
|
| $905,000 | 2017 | Serial | 3% | 105.196 | 0.48%
|
| $2.12 million | 2018 | Serial | 5% | 113.188 | 0.66%
|
| $990,000 | 2019 | Serial | 5% | 116.498 | 0.87%
|
| $1.04 million | 2020 | Serial | 5% | 119.307 | 1.08%
|
| $1.1 million | 2021 | Serial | 5% | 121.675 | 1.28%
|
| $1,155,000 | 2022 | Serial | 5% | 123.409 | 1.50%
|
| $1,215,000 | 2023 | Serial | 5% | 124.97 | 1.68%
|
| $1.27 million | 2024 | Serial | 5% | 117.975 | 1.84%
|
| $1,325,000 | 2025 | Serial | 5% | 127.459 | 1.98%
|
| $1,395,000 | 2026 | Serial | 5% | 126.416 | 2.08%
|
| $1,465,000 | 2027 | Serial | 5% | 125.382 | 2.18%
|
| $1.54 million | 2028 | Serial | 5% | 124.461 | 2.27%
|
| $3,665,000 | 2029 | Serial | 5% | 123.749 | 2.34%
|
| $3.83 million | 2030 | Serial | 4% | 111.305 | 2.71%
|
| $3.99 million | 2031 | Serial | 4% | 110.376 | 2.81%
|
| $4,155,000 | 2032 | Serial | 4% | 109.916 | 2.86%
|
| $4.32 million | 2033 | Serial | 4% | 109.548 | 2.90%
|
| $4,495,000 | 2034 | Serial | 4% | 109.183 | 2.94%
|
| $4.68 million | 2035 | Serial | 4% | 108.819 | 2.98%
|
| $4.87 million | 2036 | Serial | 4% | 108.546 | 3.01%
|
| $15.25 million | 2041 | Term | 5% | 119.582 | 2.76%
|
| $9.07 million | 2044 | Term | 5% | 119.291 | 2.79%
|
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