Published on 2/3/2015 in the Prospect News Municipals Daily.
New Issue: Tampa Bay Regional Water, Fla., sells $264.22 million of utility bonds
By Sheri Kasprzak
New York, Feb. 3 – The Tampa Bay Regional Water Authority of Florida sold $264.22 million of series 2015 utility system refunding revenue bonds, according to a pricing sheet.
The deal included $167,945,000 of series 2015A bonds and $96,275,000 of series 2015B taxable bonds.
The 2015A bonds are due 2025 to 2036 with 4% to 5% coupons. The full details of the 2015A bonds were not immediately available Tuesday.
The 2015B bonds are due 2015 to 2031 with 0.30% to 3.332% coupons all priced at par.
The bonds (Aa1/AA+/AA+) were sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager for the 2015A bonds and Raymond James/Morgan Keegan leading the syndicate for the 2015B bonds.
Proceeds will be used to refund the authority’s series 2006 and 2011A-B revenue bonds.
| Issuer: | Tampa Bay Regional Water Authority
|
| Issue: | Series 2015 utility system refunding revenue bonds
|
| Amount: | $264.22 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead for 2015A), Raymond James/Morgan Keegan (lead for 2015B), BofA Merrill Lynch, Morgan Stanley & Co. LLC, Raymond James/Morgan Keegan, Wells Fargo Securities LLC (co-managers for 2015A), BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (co-managers for 2015B)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Fitch: AA+
|
| Pricing date: | Feb. 3
|
| Settlement date: | March 3
|
|
|
| $167,945,000 series 2015A bonds
|
| Amount | Maturity | Type | Coupon
|
| $8.27 million | 2025 | Serial | 5%
|
| $12,355,000 | 2026 | Serial | 5%
|
| $12,965,000 | 2027 | Serial | 5%
|
| $23,875,000 | 2028 | Serial | 4%
|
| $3,655,000 | 2029 | Serial | 4%
|
| $29 million | 2030 | Serial | 4%
|
| $30.45 million | 2031 | Serial | 4%
|
| $8,565,000 | 2032 | Serial | 4%
|
| $8,995,000 | 2033 | Serial | 4%
|
| $9,455,000 | 2034 | Serial | 4%
|
| $9.93 million | 2035 | Serial | 4%
|
| $10.43 million | 2036 | Serial | 4%
|
|
|
| $96,275,000 series 2015B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $345,000 | 2015 | Serial | 0.30% | 100
|
| $730,000 | 2016 | Serial | 0.75% | 100
|
| $785,000 | 2017 | Serial | 1.011% | 100
|
| $800,000 | 2018 | Serial | 1.362% | 100
|
| $810,000 | 2019 | Serial | 1.655% | 100
|
| $830,000 | 2020 | Serial | 1.935% | 100
|
| $850,000 | 2021 | Serial | 2.141% | 100
|
| $870,000 | 2022 | Serial | 2.321% | 100
|
| $895,000 | 2023 | Serial | 2.522% | 100
|
| $920,000 | 2024 | Serial | 2.602% | 100
|
| $9 million | 2025 | Serial | 2.612% | 100
|
| $11.25 million | 2026 | Serial | 2.782% | 100
|
| $11.6 million | 2027 | Serial | 2.952% | 100
|
| $21,415,000 | 2028 | Serial | 3.052% | 100
|
| $2,405,000 | 2029 | Serial | 3.152% | 100
|
| $16.1 million | 2030 | Serial | 3.252% | 100
|
|
|
| $16.67 million | 2031 | Serial | 3.332% | 100
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
