Published on 2/19/2014 in the Prospect News Municipals Daily.
New Issue: El Dorado Irrigation District, Calif., prices $121.19 million bonds
By Sheri Kasprzak
New York, Feb. 19 - The El Dorado Irrigation District of California sold $121.19 million of series 2014A refunding revenue bonds, according to a pricing sheet.
The bonds (A1/A+/) were sold through senior manager Citigroup Global Markets Inc.
The bonds are due 2015 to 2029 with term bonds due in 2034 and 2039. The serial coupons range from 3% to 5% with 0.25% to 3.94% yields. The 2034 bonds have a 5% coupon priced at 105.552 to yield 4.31%. The 2039 bonds have a 5.25% coupon priced at 106.893 to yield 4.39%.
Proceeds will be used to refund the district's series 2004A and 2009A certificates.
| Issuer: | El Dorado Irrigation District
|
| Issue: | Series 2014A refunding revenue bonds
|
| Amount: | $121.19 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Feb. 14
|
| Settlement date: | March 5
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,545,000 | 2015 | Serial | 3% | 102.714 | 0.25%
|
| $3.66 million | 2016 | Serial | 4% | 107.124 | 0.40%
|
| $3.82 million | 2017 | Serial | 4% | 109.743 | 0.70%
|
| $3,985,000 | 2018 | Serial | 5% | 115.433 | 1.04%
|
| $4,185,000 | 2019 | Serial | 5% | 117.288 | 1.40%
|
| $4.39 million | 2020 | Serial | 5% | 117.346 | 1.92%
|
| $210,000 | 2021 | Serial | 5% | 117.198 | 2.32%
|
| $565,000 | 2022 | Serial | 5% | 116.584 | 2.68%
|
| $585,000 | 2023 | Serial | 5% | 116.082 | 2.95%
|
| $615,000 | 2024 | Serial | 3% | 98.807 | 3.14%
|
| $4,375,000 | 2025 | Serial | 5% | 114.182 | 3.32%
|
| $4.6 million | 2026 | Serial | 5% | 112.822 | 3.47%
|
| $4.84 million | 2027 | Serial | 5% | 111.303 | 3.64%
|
| $5.09 million | 2028 | Serial | 5% | 109.983 | 3.79%
|
| $5,345,000 | 2029 | Serial | 5% | 108.682 | 3.94%
|
| $31,135,000 | 2034 | Term | 5% | 105.552 | 4.31%
|
| $40,245,000 | 2039 | Term | 5.25% | 106.893 | 4.39%
|
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