By Sheri Kasprzak
New York, July 14 - The Eastern Municipal Water District of California priced $56.255 million of series 2011A water and sewer revenue bonds, according to an official statement.
The bonds (Aa2/AA/AA+) were sold on a negotiated basis with Bank of America Merrill Lynch and Stone & Youngberg as the senior managers.
The bonds are due 2012 to 2020 with coupons from 2% to 5% and yields from 0.27% to 2.84%.
Proceeds will be used to refund the district's series 2001A water and sewer refunding certificates of participation.
| Issuer: | Eastern Municipal Water District
|
| Issue: | Series 2011A water and sewer revenue bonds
|
| Amount: | $56.255 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Stone & Youngberg
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA+
|
| Pricing date: | July 13
|
| Settlement date: | July 20
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $7.485 million | 2012 | Serial | 2% | 0.27%
|
| $6.94 million | 2013 | Serial | 4% | 0.51%
|
| $7.665 million | 2014 | Serial | 4% | 0.82%
|
| $8.015 million | 2015 | Serial | 5% | 1.15%
|
| $8.42 million | 2016 | Serial | 4% | 1.48%
|
| $4.145 million | 2017 | Serial | 4% | 1.89%
|
| $4.31 million | 2018 | Serial | 5% | 2.27%
|
| $4.525 million | 2019 | Serial | 5% | 2.61%
|
| $4.75 million | 2020 | Serial | 5% | 2.84%
|
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