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Published on 1/7/2010 in the Prospect News Municipals Daily.

New Issue: Boston Water & Sewer prices $92.86 million in revenue refunding bonds

By Sheri Kasprzak

New York, Jan. 7 - The Boston Water & Sewer Commission sold $92.86 million in series 2010 general revenue refunding bonds on Thursday, according to a pricing sheet.

The bonds (Aa2/AA+/AA) were sold through Merrill Lynch & Co.

The bonds are due 2010 to 2011 and 2016 to 2031 with 2.5% to 5% coupons.

Proceeds will be used to refund existing water and sewer bonds.

Issuer:Boston Water & Sewer Commission
Issue:Series 2010 general revenue refunding bonds
Amount:$92.86 million
Type:Negotiated
Underwriter:Merrill Lynch & Co.
Ratings:Moody's: Aa2
Standard & Poor's: AA+
Fitch: AA
Pricing date:Jan. 7
Settlement date:Jan. 20
MaturityTypeCouponPrice
2010Serial2.5%101.634
2011Serial2.5%103.359
2016Serial4%110.547
2017Serial4%109.653
2019Serial4%107.539
2020Serial4%106.323
2021Serial5%113.927
2022Serial5%113.302
2023Serial5%112.68
2024Serial3.5%98.519
2024Serial5%112.063
2025Serial4%102.438
2025Serial5%111.45
2026Serial5%111.015
2027Serial5%110.408
2028Serial5%109.806
2029Serial5%109.207
2030Serial5%108.613
2031Serial4%98.563

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