Published on 4/13/2012 in the Prospect News Municipals Daily.
New Issue: Salt River Project Agricultural Improvement, Ariz., sells $236.19 million refunding bonds
By Sheri Kasprzak
New York, April 13 - The Salt River Project Agricultural Improvement and Power District priced $236,185,000 of series 2012A Salt River Project electric system refunding revenue bonds, said a pricing sheet.
The bonds (Aa1/AA/) were sold through Goldman Sachs & Co. The co-managers were Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Ramirez & Co. Inc.
The bonds are due 2029 to 2031 with 5% coupons.
Proceeds will be used to refund existing debt.
| Issuer: | Salt River Project Agricultural Improvement and Power District, Ariz.
|
| Issue: | Series 2012A Salt River Project electric system refunding revenue bonds
|
| Amount: | $236,185,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. (lead), Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Ramirez & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | April 12
|
| Settlement date: | April 26
|
|
|
| Amount Maturity | Type | Coupon Price
|
| $58,645,000 | 2029 | Serial | 5% | 116.834
|
| $57,895,000 | 2030 | Serial | 5% | 116.455
|
| $119,645,000 | 2031 | Serial | 5% | 115.985
|
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