By Sheri Kasprzak
New York, Sept. 16 - The city of Gainesville, Fla., priced Tuesday $181.09 million in series 2009 utilities system revenue bonds for Gainesville Regional Utilities, according to a pricing sheet.
The sale included $156.9 million in series 2009A federally taxable Build America Bonds and $24.19 million in series 2009B taxable revenue bonds.
The bonds (Aa2/AA/) were sold on a negotiated basis with J.P. Morgan Securities Inc. as the lead manager. The co-managers were Goldman, Sachs & Co., Citigroup Global Markets Inc., and Barclays Capital Inc.
The series 2009A bonds are due 2010 to 2015 with coupons from 0.85% to 3.589%, all priced at par. The 2009B bonds are due 2015 to 2020 with term bonds due 2024, 2029 and 2039. The serials have coupons from 3.589% to 4.847%, all priced at par. The 2024 bonds have a 5.147% coupon, the 2029 bonds a 5.605% coupon and the 2039 bonds a 5.655% coupon. The term bonds are also all priced at par.
Proceeds will be used to acquire and improve the city's telecommunications system and refund the city's series D commercial paper notes.
| Issuer: | Gainesville, Fla./Gainesville Regional Utilities
|
| Issue: | Series 2009 utilities system revenue bonds
|
| Amount: | $181.09 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Goldman, Sachs & Co.; Citigroup Global Markets Inc.; and Barclays Capital Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 24
|
|
|
| Series 2009A taxable revenue bonds
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 0.85% | Par
|
| 2011 | Serial | 1.681% | Par
|
| 2012 | Serial | 2.367% | Par
|
| 2013 | Serial | 3.369% | Par
|
| 2014 | Serial | 3.439% | Par
|
| 2015 | Serial | 3.589% | Par
|
|
|
| Series 2009B taxable Build America Bonds
|
| Maturity | Type | Coupon | Price
|
| 2015 | Serial | 3.589% | Par
|
| 2016 | Serial | 4.108% | Par
|
| 2017 | Serial | 4.497% | Par
|
| 2018 | Serial | 4.597% | Par
|
| 2019 | Serial | 4.697% | Par
|
| 2020 | Serial | 4.847% | Par
|
| 2024 | Term | 5.147% | Par
|
| 2029 | Term | 5.605% | Par
|
| 2039 | Term | 5.655% | Par
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
