New Issue: Manatee County, Fla., brings $91.49 million of public utilities bonds

By Sheri Kasprzak

New York, March 31 – Manatee County, Fla., sold $91,485,000 of series 2015 public utilities revenue refunding and improvement bonds, according to a term sheet.

The bonds (Aa2//AA+) were offered through Wells Fargo Securities LLC.

The bonds are due 2017 to 2021 and 2024 to 2035 with a term bond due in 2039. The serial coupons range from 3% to 5%. The 2039 bonds have a 4% coupon priced at 103.231.

Proceeds will be used to finance improvements to county’s utilities system and to refund existing debt.

Issuer:	Manatee County, Fla.
Issue:	Series 2015 public utilities revenue refunding and improvement bonds
Amount:	$91,485,000
Type:	Negotiated
Underwriters:	Wells Fargo Securities LLC (lead), Harbor Financial Inc. and Citigroup Global Markets Inc. (co-managers)
Ratings:	Moody’s; Aa2
	Fitch: AA+
Pricing date:	March 31
Settlement date:	April 22
Amount	Maturity	Type	Coupon	Price
$3.16 million	2017	Serial	4%	107.772
$3.28 million	2018	Serial	4%	109.803
$3,415,000	2019	Serial	5%	115.73
$3.59 million	2020	Serial	5%	117.765
$3,765,000	2021	Serial	5%	119.649
$1.45 million	2024	Serial	5%	123.945
$1,605,000	2025	Serial	5%	124.724
$1.78 million	2026	Serial	5%	122.476
$1.99 million	2027	Serial	5%	121.295
$2,205,000	2028	Serial	5%	120.128
$2.45 million	2029	Serial	5%	119.646
$2.7 million	2030	Serial	3%	97.577
$2,925,000	2031	Serial	5%	117.928
$3,215,000	2032	Serial	5%	117.456
$3,535,000	2033	Serial	5%	117.08
$3,865,000	2034	Serial	4%	104.508
$4,195,000	2035	Serial	4%	104.251
$42.36 million	2039	Term	4%	103.231

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