Published on 7/29/2013 in the Prospect News Municipals Daily.
New Issue: Santa Margarita Water District, Calif., sells $57.42 million tax bonds
By Sheri Kasprzak
New York, July 29 - The Community Facilities District No. 2013-1 of the Santa Margarita Water District in California priced $57.42 million of series 2013 special tax bonds, according to a pricing sheet.
The bonds were sold through senior manager Stifel, Nicolaus & Co.
The bonds are due 2014 to 2027 with term bonds due in 2029, 2032, 2036 and 2043. The serial coupons range from 2% to 5.125% with 1% to 5.2% yields. The 2029 bonds have a 5.375% coupon priced at 99.198 to yield 5.45%, and the 2032 bonds have a 5.5% coupon priced at 98.831 to yield 5.6%. The 2036 bonds have a 5.625% coupon priced at 99.674 to yield 5.65%. The 2043 bonds have a 5.625% coupon priced at 98.921 to yield 5.7%.
Proceeds will be used to form the district and construct and acquire capital needs for the district.
| Issuer: | Community Facilities District No. 2013-1 of the Santa Margarita Water District
|
| Issue: | Series 2013 special tax bonds
|
| Amount: | $57.42 million
|
| Type: | Negotiated
|
| Underwriter: | Stifel, Nicolaus & Co. (lead)
|
| Pricing date: | July 18
|
| Settlement date: | July 31
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $185,000 | 2014 | Serial | 2% | 101.074 | 1%
|
| $95,000 | 2015 | Serial | 3% | 102.400 | 1.82%
|
| $160,000 | 2016 | Serial | 3% | 101.324 | 2.55%
|
| $230,000 | 2017 | Serial | 3.125% | 99.713 | 3.2%
|
| $305,000 | 2018 | Serial | 4% | 101.608 | 3.65%
|
| $385,000 | 2019 | Serial | 4% | 100.157 | 3.97%
|
| $470,000 | 2020 | Serial | 4% | 98.782 | 4.2%
|
| $560,000 | 2021 | Serial | 4.25% | 98.651 | 4.45%
|
| $660,000 | 2022 | Serial | 5% | 102.193 | 4.7%
|
| $765,000 | 2023 | Serial | 5% | 101.180 | 4.85%
|
| $880,000 | 2024 | Serial | 5% | 100.231 | 4.97%
|
| $1 million | 2025 | Serial | 5% | 99.368 | 5.07%
|
| $1.13 million | 2026 | Serial | 5% | 98.114 | 5.2%
|
| $1,265,000 | 2027 | Serial | 5.125% | 98.274 | 5.3%
|
| $2.99 million | 2029 | Term | 5.375% | 99.198 | 5.45%
|
| $5.79 million | 2032 | Term | 5.5% | 98.831 | 5.6%
|
| $10,705,000 | 2036 | Term | 5.625% | 99.674 | 5.65%
|
| $29,845,000 | 2043 | Term | 5.625% | 98.921 | 5.7%
|
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