Published on 1/13/2016 in the Prospect News Municipals Daily.
New Issue: South Florida Water Management prices $395.48 million of certificates
By Sheri Kasprzak
New York, Jan. 13 – The South Florida Water Management District sold $395.48 million of series 2015 certificates of participation, according to a pricing sheet.
The certificates are due 2017 to 2036 with 3% to 5% coupons.
The COPs were offered through Citigroup Global Markets Inc.
Proceeds will be used to refund a portion of the district’s series 2006 certificates of participation.
| Issuer: | South Florida Water Management District
|
| Issue: | Series 2015 certificates of participation
|
| Amount: | $395.48 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), BofA Merrill Lynch, Loop Capital Markets Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Stifel, Nicolaus & Co. Inc. and SunTrust Robinson Humphrey (co-managers)
|
| Pricing date: | Jan. 12
|
| Settlement date: | Feb. 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $11.96 million | 2017 | Serial | 5% | 107.052
|
| $12.56 million | 2018 | Serial | 5% | 110.689
|
| $13,185,000 | 2019 | Serial | 5% | 113.97
|
| $13,845,000 | 2020 | Serial | 5% | 116.967
|
| $14.54 million | 2021 | Serial | 5% | 119.531
|
| $15,265,000 | 2022 | Serial | 5% | 121.419
|
| $16.03 million | 2023 | Serial | 5% | 122.516
|
| $16.83 million | 2024 | Serial | 5% | 123.436
|
| $17.67 million | 2025 | Serial | 5% | 124.21
|
| $18,555,000 | 2026 | Serial | 5% | 123.995
|
| $19.48 million | 2027 | Serial | 5% | 122.879
|
| $20.46 million | 2028 | Serial | 5% | 121.874
|
| $21.48 million | 2029 | Serial | 5% | 121.177
|
| $22.55 million | 2030 | Serial | 5% | 120.681
|
| $15,375,000 | 2031 | Serial | 3% | 98.156
|
| $8,305,000 | 2031 | Serial | 5% | 119.698
|
| $24,865,000 | 2032 | Serial | 5% | 119.015
|
| $26.11 million | 2033 | Serial | 5% | 118.337
|
| $27.41 million | 2034 | Serial | 5% | 117.856
|
| $28,785,000 | 2035 | Serial | 5% | 117.377
|
| $30.22 million | 2036 | Serial | 5% | 116.9
|
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