By Sheri Kasprzak
New York, Feb. 16 - The Imperial Irrigation District of California sold $78.065 million of series 2011A electric system refunding revenue bonds, said a pricing sheet.
The bonds (Aa3/A1/AA+/AA-) were sold through Goldman, Sachs & Co. and Citigroup Global Markets Inc. The co-managers were Barclays Capital Inc. and De La Rosa & Co.
The bonds are due 2012 to 2026 with term bonds due 2031 and 2041. The serial coupons range from 3% to 5.25%. The 2031 bonds have a 6.25% coupon priced at 111.975. The 2041 bonds have a 5.5% coupon priced at 95.3.
Proceeds will be used to refund the district's series A notes, which were used to finance the El Centro Unit 3 Repower Project.
| Issuer: | Imperial Irrigation District
|
| Issue: | Series 2011A electric system refunding revenue bonds
|
| Amount: | $78.065 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Citigroup Global Markets Inc. (lead), Barclays Capital Inc. and De La Rosa & Co. (co-managers)
|
| Ratings: | Moody's: Aa3/A1
|
| Standard & Poor's: AA+/AA-
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 24
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.135 million | 2012 | Serial | 3% | 103.385
|
| $1.17 million | 2013 | Serial | 5% | 109.372
|
| $1.23 million | 2014 | Serial | 5% | 110.832
|
| $1.29 million | 2015 | Serial | 5% | 111.314
|
| $1.355 million | 2016 | Serial | 5% | 111.43
|
| $1.425 million | 2017 | Serial | 5% | 110.816
|
| $1.495 million | 2018 | Serial | 5% | 109.956
|
| $1.57 million | 2019 | Serial | 5% | 108.416
|
| $1.65 million | 2020 | Serial | 5% | 107.129
|
| $1.73 million | 2021 | Serial | 5% | 105.677
|
| $1.815 million | 2022 | Serial | 5.25% | 106.377
|
| $1.91 million | 2023 | Serial | 5.25% | 104.813
|
| $2.015 million | 2024 | Serial | 5.25% | 103.251
|
| $2.12 million | 2025 | Serial | 5% | 99.376
|
| $2.225 million | 2026 | Serial | 5% | 97.865
|
| $13.225 million | 2031 | Term | 6.25% | 111.975
|
| $40.705 million | 2041 | Term | 5.5% | 95.3
|
© 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.
