Published on 5/20/2015 in the Prospect News Municipals Daily.
New Issue: Buffalo Municipal Water, N.Y., cuts refunding bonds to $46.73 million
By Sheri Kasprzak
New York, May 20 – The Buffalo Municipal Water Finance Authority of New York sold $46,725,000 of series 2015A water system revenue refunding bonds, said a pricing sheet. The deal was downsized from $50 million.
The bonds are due 2016 to 2035 with 2% to 5% coupons.
Proceeds will be used to refund the authority’s series 2008A water system bonds.
Issuer: | Buffalo Municipal Water Finance Authority
|
Issue: | Series 2015A water system revenue refunding bonds
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Amount: | $46,725,000
|
Type: | Negotiated
|
Underwriters: | Ramirez & Co. Inc. (lead), Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
Rating: | Standard & Poor’s: A
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Pricing date: | May 20
|
Settlement date: | June 3
|
|
Amount | Maturity | Type | Coupon | Price
|
$1.64 million | 2016 | Serial | 2% | 101.458
|
$1.65 million | 2017 | Serial | 5% | 108.204
|
$1,865,000 | 2018 | Serial | 5% | 110.711
|
$1.56 million | 2019 | Serial | 5% | 112.946
|
$3.09 million | 2020 | Serial | 5% | 114.624
|
$3.28 million | 2021 | Serial | 5% | 115.6
|
$2.82 million | 2022 | Serial | 4% | 109.946
|
$2.95 million | 2023 | Serial | 5% | 116.827
|
$3.17 million | 2024 | Serial | 5% | 116.914
|
$3,305,000 | 2025 | Serial | 5% | 116.901
|
$3,525,000 | 2026 | Serial | 5% | 115.678
|
$4.52 million | 2027 | Serial | 5% | 114.563
|
$4,745,000 | 2028 | Serial | 5% | 113.644
|
$5.03 million | 2029 | Serial | 5% | 112.915
|
$710,000 | 2030 | Serial | 5% | 112.191
|
$775,000 | 2031 | Serial | 5% | 111.652
|
$810,000 | 2032 | Serial | 5% | 111.117
|
$410,000 | 2033 | Serial | 4% | 99.87
|
$420,000 | 2034 | Serial | 4% | 99.337
|
$450,000 | 2035 | Serial | 4% | 98.773
|
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