Published on 11/24/2014 in the Prospect News Municipals Daily.
New Issue: La Paz County IDA, Ariz., sells $109.66 million refunding project debt
By Sheri Kasprzak
New York, Nov. 24 – The La Paz County Industrial Development Authority of Arizona sold $109,655,000 of series 2014 taxable senior lien refunding project revenue bonds, according to a pricing sheet.
The bonds (/BBB/) were sold through Aegis Capital Corp. and Raymond James/Morgan Keegan.
The bonds are due 2015 to 2026 with term bonds due in 2029, 2034 and 2040. The serial coupons range from 4.25% to 6.5% with 3% to 6.5% yields. The 2029 bonds have a 6.7% coupon priced at 99.068 to yield 6.8%, and the 2034 bonds have a 6.9% coupon priced at 98.404 to yield 7.05%. The 2040 bonds have a 7% coupon priced at 98.239 to yield 7.15%.
Proceeds will be used to refund and redeem the authority’s series 2013 revenue bonds, which were issued to construct an industrial park for corporate office space near Calexico, Calif.
| Issuer: | La Paz County Industrial Development Authority
|
| Issue: | Series 2014 taxable senior lien refunding project revenue bonds
|
| Amount: | $109,655,000
|
| Type: | Negotiated
|
| Underwriters: | Aegis Capital Corp. and Raymond James/Morgan Keegan (lead), Municipal Capital Markets Group (co-manager)
|
| Rating: | Standard & Poor’s: BBB
|
| Pricing date: | Nov. 18
|
| Settlement date: | Dec. 3
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,705,000 | 2015 | Serial | 4.25% | 101.215 | 3.00%
|
| $1,735,000 | 2016 | Serial | 5.2% | 102.374 | 3.95%
|
| $1.83 million | 2017 | Serial | 5.75% | 103.323 | 4.55%
|
| $1.93 million | 2018 | Serial | 6% | 104.13 | 4.85%
|
| $2,045,000 | 2019 | Serial | 6.25% | 105.014 | 5.10%
|
| $2.18 million | 2020 | Serial | 5.4% | 100 | 5.40%
|
| $2.29 million | 2021 | Serial | 5.75% | 100 | 5.75%
|
| $2.43 million | 2022 | Serial | 5.95% | 100 | 5.95%
|
| $2.57 million | 2023 | Serial | 6.15% | 100 | 6.15%
|
| $2.73 million | 2024 | Serial | 6.25% | 100 | 6.25%
|
| $2.9 million | 2025 | Serial | 6.35% | 100 | 6.35%
|
| $3.08 million | 2026 | Serial | 6.5% | 100 | 6.50%
|
| $10,525,000 | 2029 | Term | 6.7% | 99.068 | 6.80%
|
| $22.89 million | 2034 | Term | 6.9% | 98.404 | 7.05%
|
| $48,815,000 | 2040 | Term | 7% | 98.239 | 7.15%
|
© 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.
