Published on 1/31/2013 in the Prospect News Municipals Daily.
New Issue: Bay Area Water Supply and Conservation, Calif., sells $331.82 million revenue bonds
By Sheri Kasprzak
New York, Jan. 31 - The Bay Area Water Supply and Conservation Agency of California priced $331.82 million of series 2013 capital cost recovery prepayment program revenue bonds, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through Goldman, Sachs & Co. and De La Rosa & Co.
The offering includes $237,515,000 of series 2013A bonds and $94,305,000 of series 2013B taxable bonds.
The 2013A bonds are due 2014 to 2034 with 1% to 5% coupons.
The 2013B bonds are due 2014 to 2028 with a term bond due in 2034. The serial coupons range from 0.435% to 3.465%, all priced at par. The 2034 bonds have a 3.994% coupon priced at par.
Proceeds will be used to finance the prepayment of water supply from certain retail water providers.
| Issuer: | Bay Area Water Supply and Conservation Agency
|
| Issue: | Series 2013 capital cost recovery prepayment program revenue bonds
|
| Amount: | $331.82 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and De La Rosa & Co. (lead), Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 27
|
|
|
| $237,515,000 series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $7,225,000 | 2014 | Serial | 1% | 101.144
|
| $7.37 million | 2015 | Serial | 2% | 103.966
|
| $7.59 million | 2016 | Serial | 3% | 108.446
|
| $7,895,000 | 2017 | Serial | 4% | 114.65
|
| $8.21 million | 2018 | Serial | 4% | 116.637
|
| $8,535,000 | 2019 | Serial | 4% | 117.423
|
| $8,965,000 | 2020 | Serial | 4% | 117.958
|
| $9,415,000 | 2021 | Serial | 5% | 126.281
|
| $3,035,000 | 2022 | Serial | 4% | 118.049
|
| $6,845,000 | 2022 | Serial | 5% | 126.769
|
| $10.38 million | 2023 | Serial | 5% | 126.774
|
| $2.55 million | 2024 | Serial | 3% | 107.205
|
| $8.35 million | 2024 | Serial | 5% | 125.529
|
| $11.44 million | 2025 | Serial | 5% | 123.486
|
| $12,015,000 | 2026 | Serial | 5% | 122.579
|
| $12,615,000 | 2027 | Serial | 5% | 121.681
|
| $13,245,000 | 2028 | Serial | 5% | 120.987
|
| $13.91 million | 2029 | Serial | 5% | 120.397
|
| $14,605,000 | 2030 | Serial | 5% | 120.103
|
| $10 million | 2033 | Serial | 3.125% | 95.949
|
| $7 million | 2034 | Serial | 4% | 107.298
|
| $46.32 million | 2034 | Serial | 5% | 118.26
|
|
|
| $94,305,000 series 2013B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.52 million | 2014 | Serial | 0.435% | 100
|
| $3,535,000 | 2015 | Serial | 0.566% | 100
|
| $3,555,000 | 2016 | Serial | 0.854% | 100
|
| $3.59 million | 2017 | Serial | 1.311% | 100
|
| $3,635,000 | 2018 | Serial | 1.581% | 100
|
| $3.69 million | 2019 | Serial | 1.914% | 100
|
| $3.76 million | 2020 | Serial | 2.184% | 100
|
| $3.84 million | 2021 | Serial | 2.535% | 100
|
| $3.94 million | 2022 | Serial | 2.735% | 100
|
| $4,045,000 | 2023 | Serial | 2.855% | 100
|
| $4.16 million | 2024 | Serial | 3.015% | 100
|
| $4,285,000 | 2025 | Serial | 3.165% | 100
|
| $4.42 million | 2026 | Serial | 3.285% | 100
|
| $4.57 million | 2027 | Serial | 3.365% | 100
|
| $4.72 million | 2028 | Serial | 3.465% | 100
|
| $35.04 million | 2034 | Term | 3.994% | 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.
