By Sheri Kasprzak
New York, May 13 - The Pollution Control Financing Authority of Gloucester County, N.J., sold $61.09 million of series 2014 pollution control revenue refunding bonds, according to an official statement. The offering was downsized from $66,795,000.
The deal included $58,295,000 series 2014A AMT revenue refunding bonds and $2,795,000 of series 2014B taxable pollution revenue bonds.
The 2014A bonds are due Dec. 1, 2024 and have a 5% coupon priced at 108.522.
The 2014B bonds are due Dec. 1, 2019 and have a 4.75% coupon priced at par.
The bonds (Ba1/BBB-/) were sold through Morgan Stanley & Co. LLC.
Proceeds will be used to refund authority's series 1992 revenue bonds.
| Issuer: | Pollution Control Financing Authority of Gloucester County, N.J.
|
| Issue: | Series 2014 pollution control revenue refunding bonds
|
| Amount: | $61.09 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. LLC (lead)
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BBB-
|
| Pricing date: | May 12
|
| Settlement date: | May 21
|
|
|
| $58,295,000 series 2014A AMT revenue refunding bonds
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2024 | Term | 5% | 108.522
|
|
|
| $2,795,000 series 2014B taxable pollution revenue bonds
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2019 | Term | 4.75% | 100
|
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