By Sheri Kasprzak
New York, Sept. 29 - The Salt River Project Agricultural Improvement and Power District of Arizona sold $500 million in series 2010A Build America Bonds on Wednesday, according to a pricing sheet.
Morgan Stanley & Co. Inc. was the senior manager for the sale, which was knocked down from $641 million.
The bonds (Aa1/AA/) are due Jan. 1, 2041 and have a 4.839% coupon, priced at par.
Proceeds from the offering will be used to finance the district's ongoing capital improvement program, as well as refund existing debt.
| Issuer: | Salt River Project Agricultural Improvement and Power District
|
| Issue: | Series 2010A Build America Bonds
|
| Amount: | $500 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 7
|
|
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2041 | Term | 4.839% | 100
|
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