Published on 9/2/2015 in the Prospect News Municipals Daily.
New Issue: Lower Colorado River, Texas, prices $134.46 million of refunding bonds
By Sheri Kasprzak
New York, Sept. 2 – The Lower Colorado River Authority of Texas sold $134,455,000 of series 2015D refunding revenue bonds, according to a pricing sheet.
The bonds (/A/A) were sold through Barclays.
The bonds are due 2016 to 2032 with coupons from 3% to 5%.
Proceeds will be used to refund existing revenue bonds.
| Issuer: | Lower Colorado River Authority
|
| Issue: | Series 2015D refunding revenue bonds
|
| Amount: | $134,455,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Rice Financial Products Co. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor’s: A
|
| Fitch: A
|
| Pricing date: | Sept. 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $24.54 million | 2016 | Serial | 3% | 101.728
|
| $20.72 million | 2017 | Serial | 5% | 106.916
|
| $1.4 million | 2019 | Serial | 5% | 112.345
|
| $12,655,000 | 2020 | Serial | 5% | 114.532
|
| $5,025,000 | 2022 | Serial | 5% | 116.92
|
| $6.12 million | 2023 | Serial | 5% | 117.557
|
| $3,395,000 | 2024 | Serial | 5% | 117.907
|
| $2.76 million | 2025 | Serial | 5% | 118.227
|
| $2,895,000 | 2026 | Serial | 5% | 116.662
|
| $5.45 million | 2027 | Serial | 5% | 115.663
|
| $5.6 million | 2028 | Serial | 5% | 114.495
|
| $10.28 million | 2029 | Serial | 5% | 113.695
|
| $12.36 million | 2030 | Serial | 5% | 112.901
|
| $12.54 million | 2031 | Serial | 5% | 112.027
|
| $3.95 million | 2032 | Serial | 3.75% | 97.571
|
| $4,765,000 | 2032 | Serial | 5% | 111.506
|
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