By Sheri Kasprzak
New York, May 2 - The City of Columbia, Mo., brought $80.26 million of series 2011A water and electric system revenue refunding and improvement bonds, said a pricing sheet.
The bonds (AA-) were sold competitively with Wells Fargo Bank, NA as the winning bidder. The true interest cost came in at 4.380767%.
The bonds are due 2011 to 2038 with a term bond due in 2041. The serial coupons range from 3% to 4.875%. The 2041 bonds have a 4.75% coupon.
Proceeds will be used to upgrade and improve the city's water and electric systems, as well as to refund existing debt.
| Issuer: | City of Columbia, Mo.
|
| Issue: | Series 2011A water and electric system revenue refunding and improvement bonds
|
| Amount: | $80.26 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Bank, NA (winner)
|
| TIC: | 4.380767%
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | May 2
|
| Settlement date: | May 17
|
|
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 4%
|
| 2020 | Serial | 3%
|
| 2021 | Serial | 3.25%
|
| 2022 | Serial | 3.5%
|
| 2023 | Serial | 3.5%
|
| 2024 | Serial | 3.75%
|
| 2025 | Serial | 4%
|
| 2026 | Serial | 4%
|
| 2027 | Serial | 4%
|
| 2028 | Serial | 4.125%
|
| 2029 | Serial | 4.25%
|
| 2030 | Serial | 4.375%
|
| 2031 | Serial | 4.5%
|
| 2032 | Serial | 4.5%
|
| 2033 | Serial | 4.625%
|
| 2034 | Serial | 4.625%
|
| 2035 | Serial | 4.75%
|
| 2036 | Serial | 4.75%
|
| 2037 | Serial | 4.875%
|
| 2038 | Serial | 4.875%
|
| 2041 | Term | 4.75%
|
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