Published on 7/29/2014 in the Prospect News Municipals Daily.
New Issue: East Bay Municipal Utility, Calif., sells $82.36 million revenue bonds
By Sheri Kasprzak
New York, July 29 – The East Bay Municipal Utility District of California sold $82,355,000 of series 2014 wastewater system revenue refunding bonds, said a pricing sheet.
The bonds (/AAA/AA+) were sold through Morgan Stanley & Co. LLC and Stifel, Nicolaus & Co.
The bonds are due 2015 to 2031 with 2% to 5% coupons.
Proceeds will be used to refund variable-rate bonds.
| Issuer: | East Bay Municipal Utility District
|
| Issue: | Series 2014 wastewater system revenue refunding bonds
|
| Amount: | $82,355,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Stifel, Nicolaus & Co. (lead)
|
| Ratings: | Standard & Poor’s: AAA
|
| Fitch: AA+
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2 million | 2015 | Serial | 2% | 101.432
|
| $4,115,000 | 2016 | Serial | 3% | 104.821
|
| $4,275,000 | 2017 | Serial | 4% | 109.662
|
| $4.47 million | 2018 | Serial | 4% | 111.823
|
| $4.64 million | 2019 | Serial | 5% | 117.877
|
| $6.1 million | 2020 | Serial | 5% | 119.97
|
| $6,425,000 | 2021 | Serial | 5% | 121.338
|
| $6.8 million | 2022 | Serial | 5% | 122.341
|
| $7,095,000 | 2023 | Serial | 5% | 123.447
|
| $7,415,000 | 2024 | Serial | 5% | 124.366
|
| $7.74 million | 2025 | Serial | 5% | 124.95
|
| $8,065,000 | 2026 | Serial | 5% | 125.097
|
| $6,485,000 | 2027 | Serial | 5% | 124.68
|
| $1,625,000 | 2028 | Serial | 5% | 124.324
|
| $1.68 million | 2029 | Serial | 5% | 123.973
|
| $1,745,000 | 2030 | Serial | 5% | 123.54
|
| $1.68 million | 2031 | Serial | 5% | 123.644
|
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