Published on 3/21/2013 in the Prospect News Municipals Daily.
New Issue: California Public Works brings $357.47 million of lease revenue bonds
By Sheri Kasprzak
New York, March 21 - The California Public Works Board priced $357,465,000 of series 2013 lease revenue bonds, according to a pricing sheet.
The deal included $342.36 million of series 2013A Judicial Council of California lease revenue bonds and $15,105,000 of series 2013B Stanislaus juvenile facility lease revenue bonds.
The 2013A bonds are due 2017 to 2034 with a term bond due in 2038. The serial coupons range from 3% to 5%. The 2038 bonds have a 5% coupon priced at 108.122.
The 2013B bonds are due 2014 to 2028 with coupons from 2% to 5%.
The bonds (A2/A-/AA) were sold on a negotiated basis with Barclays as the senior manager.
Proceeds will be used to finance the rehabilitation of court and juvenile facilities within the state.
| Issuer: | California Public Works Board
|
| Issue: | Series 2013 lease revenue bonds
|
| Amount: | $357,465,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: AA
|
| Pricing date: | March 20
|
| Settlement date: | March 28
|
|
|
| $342.36 million series 2013A Judicial Council of California lease revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $9,525,000 | 2017 | Serial | 3% | 107.638
|
| $9.81 million | 2018 | Serial | 3% | 107.687
|
| $10.11 million | 2019 | Serial | 4% | 113.151
|
| $10.51 million | 2020 | Serial | 5% | 119.594
|
| $5,675,000 | 2021 | Serial | 3% | 104.969
|
| $5.36 million | 2021 | Serial | 4% | 112.173
|
| $11.42 million | 2022 | Serial | 4% | 111.507
|
| $11,875,000 | 2023 | Serial | 5% | 119.713
|
| $12,475,000 | 2024 | Serial | 5% | 117.243
|
| $13,095,000 | 2025 | Serial | 5% | 115.384
|
| $13.75 million | 2026 | Serial | 5% | 113.741
|
| $14.44 million | 2027 | Serial | 5% | 112.751
|
| $15.16 million | 2028 | Serial | 5% | 111.859
|
| $15,915,000 | 2029 | Serial | 5% | 110.889
|
| $8,985,000 | 2030 | Serial | 4% | 99.753
|
| $7.73 million | 2030 | Serial | 5% | 110.276
|
| $17.46 million | 2031 | Serial | 5% | 110.015
|
| $18.33 million | 2032 | Serial | 5% | 109.668
|
| $4,025,000 | 2033 | Serial | 4.125% | 100
|
| $15.22 million | 2033 | Serial | 5% | 109.409
|
| $20.18 million | 2034 | Serial | 5% | 108.978
|
| $91.31 million | 2038 | Term | 5% | 108.122
|
|
|
| $15,105,000 series 2013B Stanislaus juvenile facility lease revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $835,000 | 2014 | Serial | 3% | 102.397
|
| $50,000 | 2015 | Serial | 2% | 102.753
|
| $775,000 | 2015 | Serial | 3% | 104.665
|
| $850,000 | 2016 | Serial | 2% | 103.432
|
| $865,000 | 2017 | Serial | 3% | 107.638
|
| $890,000 | 2018 | Serial | 3% | 107.687
|
| $150,000 | 2019 | Serial | 3% | 107.531
|
| $770,000 | 2019 | Serial | 4% | 113.151
|
| $350,000 | 2020 | Serial | 3% | 106.703
|
| $605,000 | 2020 | Serial | 4% | 113.148
|
| $990,000 | 2021 | Serial | 3% | 104.969
|
| $500,000 | 2022 | Serial | 3.25% | 105.554
|
| $520,000 | 2022 | Serial | 4% | 111.507
|
| $1,055,000 | 2023 | Serial | 5% | 119.713
|
| $1,105,000 | 2024 | Serial | 3% | 98.803
|
| $1.14 million | 2025 | Serial | 3.25% | 98.634
|
| $1,175,000 | 2026 | Serial | 3.5% | 98.463
|
| $1.22 million | 2027 | Serial | 3.625% | 97.907
|
| $1.26 million | 2028 | Serial | 3.75% | 98.201
|
© 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.
