Published on 5/5/2015 in the Prospect News Municipals Daily.
New Issue: Public Power Generation, Neb., prices $187.35 million refunding bonds
By Sheri Kasprzak
New York, May 5 – The Public Power Generation Agency of Nebraska sold $187,345,000 of series 2015A revenue refunding bonds for the Whelan Energy Center Unit 2, according to a pricing sheet.
The bonds (A2/BBB+/A-) were sold through BofA Merrill Lynch.
The bonds are due 2018 to 2031 with 5% coupon and 1.16% to 3.46% yields.
Proceeds will be used to refund the agency’s series 2007A revenue bonds issued for the center.
Issuer: | Public Power Generation Agency/Whelan Energy Center Unit 2
|
Issue: | Series 2015A revenue refunding bonds
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Amount: | $187,345,000
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Type: | Negotiated
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Underwriters: | BofA Merrill Lynch (lead), Goldman, Sachs & Co., J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
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Ratings: | Moody’s: A2
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| Standard & Poor’s: BBB+
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| Fitch: A-
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Pricing date: | April 29
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Settlement date: | May 28
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$9,095,000 | 2018 | Serial | 5% | 109.774 | 1.16%
|
$9.55 million | 2019 | Serial | 5% | 112.117 | 1.52%
|
$10.03 million | 2020 | Serial | 5% | 113.898 | 1.83%
|
$11,165,000 | 2021 | Serial | 5% | 115.508 | 2.05%
|
$11.73 million | 2022 | Serial | 5% | 116.891 | 2.23%
|
$12.31 million | 2023 | Serial | 5% | 117.413 | 2.47%
|
$12.93 million | 2024 | Serial | 5% | 117.948 | 2.65%
|
$13,575,000 | 2025 | Serial | 5% | 118.575 | 2.78%
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$14,255,000 | 2026 | Serial | 5% | 116.923 | 2.96%
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$14,965,000 | 2027 | Serial | 5% | 115.567 | 3.11%
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$15,715,000 | 2028 | Serial | 5% | 114.496 | 3.23%
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$16,505,000 | 2029 | Serial | 5% | 113.612 | 3.33%
|
$17.33 million | 2030 | Serial | 5% | 112.999 | 3.40%
|
$18.19 million | 2031 | Serial | 5% | 112.476 | 3.46%
|
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