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Oklahoma City Water Utilities Trust prepares $67.86 million sale of revenue refunding bonds
By Sheri Kasprzak
New York, Jan. 6 - The Oklahoma City Water Utilities Trust plans to price $67.855 million of series 2011 water and sewer system revenue refunding bonds, according to a preliminary official statement.
The bonds (Aa1/AAA/) will be sold on a negotiated basis with BOSC, Inc. as the senior manager. The co-managers are Wells, Nelson & Associates LLC; Wells Fargo Securities Inc.; Citigroup Global Markets Inc.; and Raymond James & Associates Inc.
The bonds are due 2012 to 2040.
Proceeds will be used to refund $64 million of tax-exempt commercial paper notes. The refunding will restore the trust's commercial paper capacity.
The trust obtains funding for the city's water and sewer system's infrastructure needs.
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