By Sheri Kasprzak
New York, Aug. 18 - The Los Angeles Department of Water and Power sold $139.775 million in series 2010C power system revenue bonds, said a term sheet.
The bonds (Aa3/AA-/AA-) were sold through Loop Capital Markets LLC with Ramirez & Co. Inc., Stone & Youngberg and Wells Fargo Securities LLC as the co-managers.
The bonds are due July 1, 2027 with a 5.516% coupon priced at par.
Proceeds will be used to construct the Pine Tree Wind Turbine Expansion Project, a 120MW wind generating facility in Mohave, Calif., as well as construct the Pine Tree and Adelanto solar projects, two photovoltaic generators.
| Issuer: | Los Angeles Department of Water and Power
|
| Issue: | Series 2010C power system revenue bonds
|
| Amount: | $139.775 million
|
| Maturity: | July 1, 2027
|
| Coupon: | 5.516%
|
| Price: | Par
|
| Type: | Negotiated
|
| Underwriters: | Loop Capital Markets LLC (lead), Ramirez & Co. Inc., Stone & Youngberg and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 25
|
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