By Cristal Cody
Springdale, Ark., Jan. 17 - Chino, Calif.-based Inland Empire Utilities Agency sold $125 million of revenue bonds to lead underwriter Citigroup Global Markets at a true interest cost of 4.79%.
The bonds priced with a 5% coupon and a yield that varies from 4.09% in 2023 to 4.54% in 2038, Dean Martin, executive manager of finance and administration of Inland Empire, said in an interview.
The series 2008 bonds (A1/-/AA-) were sold through the Chino Basin Regional Finance Authority on Wednesday.
Proceeds from the bonds will be used for sewer projects in the agency's service area in western San Bernardino County.
| Issuer: | Inland Empire Utilities Agency, Chino, Calif.
|
| Issue: | Revenue bonds
|
| Type: | Negotiated
|
| Amount: | $125 million
|
| Maturities: | 2023 to 2038
|
| TIC: | 4.79%
|
| Coupon: | 5%
|
| Yields: | 4.09% in 2023 up to 4.54% in 2038
|
| Underwriter: | Citigroup Global Markets
|
| Pricing date: | Jan. 15
|
| Ratings: | Moody's: A1
|
| | Standard & Poor': AA-
|
| | Fitch: -
|
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