Published on 6/6/2013 in the Prospect News Municipals Daily.
New Issue: Lincoln Electric System, Neb., prices $75.93 million revenue and refunding bonds
By Sheri Kasprzak
New York, June 6 - The City of Lincoln, Neb., sold $75.93 million of series 2013 revenue and refunding bonds for the Lincoln Electric System, according to a pricing sheet.
The bonds (/AA/AA) were sold through senior manager BofA Merrill Lynch.
The bonds are due 2021 to 2025 with 2.7% to 5% coupons.
Proceeds will be used to refund the electric system's series 2005 bonds and commercial paper.
| Issuer: | City of Lincoln, Neb./Lincoln Electric System
|
| Issue: | Series 2013 revenue and refunding bonds
|
| Amount: | $75.93 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), Ameritas Investment Corp. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | June 6
|
| Settlement date: | June 20
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $14,845,000 | 2021 | Serial | 5% | 121.144
|
| $15,475,000 | 2022 | Serial | 5% | 121.523
|
| $16,245,000 | 2023 | Serial | 2.7% | 100
|
| $16.69 million | 2024 | Serial | 3% | 100
|
| $12,675,000 | 2025 | Serial | 3.15% | 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.
