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
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
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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