By Sheri Kasprzak
New York, Nov. 19 - The Grand River Dam Authority of Oklahoma sold $239.315 million of series 2010 revenue bonds on Thursday, according to a pricing sheet.
The bonds (A2/A/) were sold through Citigroup Global Markets Inc. and BOSC Inc. with Wells Fargo Securities LLC, Bank of America Merrill Lynch and Edward Jones & Co. LP as the co-managers.
The sale included $162.185 million of series 2010A tax-exempt bonds and $77.13 million of series 2010B federally taxable bonds.
The 2010A bonds are due 2015 to 2022 with term bonds due 2025, 2030 and 2040. Serial coupons range from 3% to 4.3%. The 2025 bonds have a 4.75% coupon priced at 99.481. The 2030 bonds have a 5% coupon priced at 96.852. The 2040 bonds have a 5.25% coupon priced at 95.669.
The 2010B bonds are due 2015 to 2020 with term bonds due 2030 and 2040. Serial coupons range from 3.71% to 5.47%, all priced at par. The 2030 bonds have a 6.93% coupon priced at par, and the 2040 bonds have a 7.155% coupon priced at par.
Proceeds will be used to construct, acquire and install improvements to the Vinita, Okla.-based authority's electric power system.
| Issuer: | Grand River Dam Authority
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $239.315 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and BOSC Inc. (lead), Wells Fargo Securities LLC, Bank of America Merrill Lynch and Edward Jones & Co. LP (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | Nov. 18
|
| Settlement date: | Dec. 1
|
|
|
| $162.185 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.435 million | 2015 | Serial | 3% | 101.518
|
| $3.535 million | 2016 | Serial | 3% | 100.252
|
| $3.645 million | 2017 | Serial | 4% | 104.124
|
| $3.79 million | 2018 | Serial | 4% | 102.542
|
| $3.94 million | 2019 | Serial | 4% | 100.789
|
| $4.095 million | 2020 | Serial | 4% | 98.986
|
| $4.26 million | 2021 | Serial | 4.125% | 98.367
|
| $4.435 million | 2022 | Serial | 4.3% | 98.572
|
| $2.87 million | 2025 | Term | 4.75% | 99.481
|
| $41.29 million | 2030 | Term | 5% | 96.852
|
| $86.89 million | 2040 | Term | 5.25% | 95.669
|
|
|
| $77.13 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.27 million | 2015 | Serial | 3.71% | 100
|
| $1.32 million | 2016 | Serial | 4.18% | 100
|
| $1.375 million | 2017 | Serial | 4.58% | 100
|
| $1.435 million | 2018 | Serial | 5.07% | 100
|
| $1.51 million | 2019 | Serial | 5.27% | 100
|
| $1.59 million | 2020 | Serial | 5.47% | 100
|
| $23.065 million | 2030 | Term | 6.93% | 100
|
| $45.565 million | 2040 | Term | 7.155% | 100
|
© 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.
