By Aaron Hochman-Zimmerman
New York, Jan. 8 - The Municipal Energy Agency of Nebraska priced $78.7 million in series 2008A subordinate power supply system revenue bonds (//A), according to Ron Hasse, director of finance and accounting for the agency.
The bonds carry serial maturities from 2010 to 2024, excluding 2017 and with term bonds in 2029 and 2039. Yields range from 1.3% to 5.42%.
The average coupon is 5.273%.
Goldman Sachs acted as the underwriter for the bonds, which priced Wednesday.
Some of the proceeds will be used to acquire a coal-fired plant and make capital improvements to it.
Other funds raised will be used to redeem series 2003B auction-rate bonds and make a deposit to a debt service reserve fund.
Issuer: Municipal Energy Agency of Nebraska
Issue: Series subordinate power supply system revenue bonds
Amount: $78.7 million
Type: Negotiated
| Maturity range: | 2009 to 2039
|
| Average coupon: | 5.273%
|
| Yield range: | 1.3% to 5.4%
|
| Pricing date: | Dec. 7
|
| Underwriter: | Goldman Sachs
|
| Ratings: | Fitch: A
|
|
|
| Maturity | Amount | Type | Coupon | Yield
|
| 2010 | $920,000 | Serial | 5% | 1.3%
|
| 2011 | $965,000 | Serial | 5% | 2.35%
|
| 2012 | $1.015 million | Serial | 5% | 2.57%
|
| 2013 | $1.070 million | Serial | 5% | 2.77%
|
| 2014 | $1.115 million | Serial | 5% | 2.99%
|
| 2015 | $1.170 million | Serial | 5% | 3.18%
|
| 2016 | $190,000 | Serial | 5% | 3.37%
|
| 2018 | $1.240 million | Serial | 5% | 3.76%
|
| 2019 | $1.310 million | Serial | 5% | 3.99%
|
| 2020 | $1.370 million | Serial | 5% | 4.28%
|
| 2021 | $1.440 million | Serial | 5% | 4.55%
|
| 2022 | $1.510 million | Serial | 5 1/8% | 4.71%
|
| 2023 | $1.585 million | Serial | 5 1/8% | 4.86%
|
| 2024 | $1.680 million | Serial | 5 1/8% | 4.97%
|
| 2029 | $9.715 million | Term | 5 1/8% | 5.23% |
|
| 2039 | $52.385 million | Term | 5 3/8% | 5.42%
|
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