Published on 1/14/2014 in the Prospect News Municipals Daily.
New Issue: El Paso, Texas, sells $65.08 million of water and sewer refunding bonds
By Sheri Kasprzak
New York, Jan. 14 - The City of El Paso, Texas, priced $65,075,000 of series 2014 water and sewer revenue refunding bonds, according to a pricing sheet.
The bonds (/AA+/AA+) were sold through Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC.
The bonds are due 2015 to 2034 with 2% to 5% coupons.
Proceeds will be used to refund a portion of the city's outstanding water and sewer revenue bonds and commercial paper notes.
Issuer: | City of El Paso
|
Issue: | Series 2014 water and sewer revenue refunding bonds
|
Amount: | $65,075,000
|
Type: | Negotiated
|
Underwriters: | Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC (lead)
|
Ratings: | Standard & Poor's: AA+
|
| Fitch: AA+
|
Pricing date: | Jan. 14
|
Settlement date: | Feb. 5
|
|
Amount | Maturity | Type | Coupon | Price
|
$870,000 | 2015 | Serial | 2% | 101.818
|
$1.71 million | 2016 | Serial | 3% | 105.274
|
$1.77 million | 2017 | Serial | 4% | 110.173
|
$1.84 million | 2018 | Serial | 4% | 112.026
|
$1.93 million | 2019 | Serial | 5% | 117.781
|
$2,025,000 | 2020 | Serial | 5% | 118.327
|
$3.71 million | 2021 | Serial | 5% | 118.244
|
$4.95 million | 2022 | Serial | 5% | 117.93
|
$3.64 million | 2023 | Serial | 5% | 117.779
|
$3,815,000 | 2024 | Serial | 5% | 117.653
|
$4.02 million | 2025 | Serial | 5% | 116.139
|
$4.22 million | 2026 | Serial | 5% | 114.834
|
$4.44 million | 2027 | Serial | 5% | 113.455
|
$4,665,000 | 2028 | Serial | 5% | 112.457
|
$4,905,000 | 2029 | Serial | 5% | 111.558
|
$5.16 million | 2030 | Serial | 5% | 110.579
|
$5,415,000 | 2031 | Serial | 5% | 109.874
|
$1,915,000 | 2032 | Serial | 4% | 98.604
|
$1,995,000 | 2033 | Serial | 4% | 97.647
|
$2.08 million | 2034 | Serial | 4.125% | 98.188
|
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