Published on 12/8/2014 in the Prospect News Municipals Daily.
New Issue: El Paso, Texas, prices $131.65 million of water, sewer bonds
By Sheri Kasprzak
New York, Dec. 8 – The City of El Paso, Texas, sold $131.65 million of series 2015 water and sewer revenue refunding bonds, according to a pricing sheet. The deal was downsized from $149.52 million.
The bonds (/AA+/AA+) were sold through Citigroup Global Markets Inc.
The bonds are due 2016 to 2035 with 3% to 5% coupons and yields from 0.3% to 3.63%.
Proceeds will be used to refund the city’s series 2005B-C, 2006, 2006A, 2007 and 2008C water and sewer bonds.
| Issuer: | City of El Paso
|
| Issue: | Series 2015 water and sewer revenue refunding bonds
|
| Amount: | $131.65 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), BOSC Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor’s: AA+
|
| Fitch: AA+
|
| Pricing date: | Dec. 4
|
| Settlement date: | Jan. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $9,185,000 | 2016 | Serial | 3% | 103.089 | 0.30%
|
| $10.05 million | 2017 | Serial | 3% | 105.134 | 0.59%
|
| $9.82 million | 2018 | Serial | 4% | 109.695 | 0.87%
|
| $12.1 million | 2019 | Serial | 4% | 111.422 | 1.17%
|
| $6,545,000 | 2020 | Serial | 4% | 112.496 | 1.47%
|
| $9.01 million | 2021 | Serial | 4% | 113.057 | 1.75%
|
| $8.35 million | 2022 | Serial | 5% | 120.253 | 1.95%
|
| $8,775,000 | 2023 | Serial | 5% | 121.276 | 2.14%
|
| $9,215,000 | 2024 | Serial | 5% | 122.34 | 2.28%
|
| $9.68 million | 2025 | Serial | 5% | 121.327 | 2.39%
|
| $10,175,000 | 2026 | Serial | 5% | 120.325 | 2.50%
|
| $8.1 million | 2027 | Serial | 5% | 119.333 | 2.61%
|
| $5,235,000 | 2028 | Serial | 4% | 107.364 | 3.07%
|
| $5.45 million | 2029 | Serial | 4% | 106.87 | 3.13%
|
| $2,375,000 | 2030 | Serial | 3.25% | 98.465 | 3.38%
|
| $1,405,000 | 2031 | Serial | 3.25% | 98.023 | 3.41%
|
| $1.45 million | 2032 | Serial | 3.375% | 98.649 | 3.48%
|
| $1.5 million | 2033 | Serial | 5% | 115.631 | 3.03%
|
| $1,575,000 | 2034 | Serial | 5% | 115.2 | 3.08%
|
| $1,655,000 | 2035 | Serial | 3.5% | 98.15 | 3.63%
|
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