Published on 6/28/2012 in the Prospect News Municipals Daily.
New Issue: El Dorado Irrigation, Calif., prices $50.69 million refunding bonds
By Sheri Kasprzak
New York, June 28 - The El Dorado Irrigation District of California sold $50,685,000 of series 2012 refunding revenue bonds, according to a pricing sheet.
The bonds (A1) were sold through Citigroup Global Markets Inc.
The deal included $48,935,000 of series 2012A bonds and $1.75 million of series 2012B bonds.
The 2012A bonds are due 2017 to 2029 with 4% to 5% coupons. The 2012B bonds are due 2013 to 2021 with coupons from 1.125% to 3.625%, all priced at par.
Proceeds will be used to refund a portion of the district's series 2003 certificates of participation.
| Issuer: | El Dorado Irrigation District
|
| Issue: | Series 2012 refunding revenue bonds
|
| Amount: | $50,685,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead)
|
| Rating: | Moody's: A1
|
| Pricing date: | June 28
|
| Settlement date: | July 12
|
|
|
| $48,935,000 series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,395,000 | 2017 | Serial | 4% | 111.439
|
| $5.62 million | 2018 | Serial | 4.25% | 113.073
|
| $5.86 million | 2019 | Serial | 4.5% | 114.925
|
| $6,135,000 | 2020 | Serial | 4.75% | 116.38
|
| $6.43 million | 2021 | Serial | 5% | 118.115
|
| $2,035,000 | 2022 | Serial | 5% | 118.186
|
| $2.14 million | 2023 | Serial | 5% | 115.99
|
| $2,245,000 | 2024 | Serial | 5% | 114.642
|
| $2,365,000 | 2025 | Serial | 5% | 112.873
|
| $2,485,000 | 2026 | Serial | 5% | 111.828
|
| $2.61 million | 2027 | Serial | 5% | 111.137
|
| $2,745,000 | 2028 | Serial | 5% | 110.452
|
| $2.87 million | 2029 | Serial | 4% | 100
|
|
|
| $1.75 million series 2012B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $180,000 | 2013 | Serial | 1.125% | 100
|
| $180,000 | 2014 | Serial | 1.75% | 100
|
| $185,000 | 2015 | Serial | 2% | 100
|
| $185,000 | 2016 | Serial | 2.5% | 100
|
| $190,000 | 2017 | Serial | 2.75% | 100
|
| $195,000 | 2018 | Serial | 3% | 100
|
| $205,000 | 2019 | Serial | 3.25% | 100
|
| $210,000 | 2020 | Serial | 3.5% | 100
|
| $220,000 | 2021 | Serial | 3.625% | 100
|
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