By Sheri Kasprzak
New York, Dec. 15 - The City of Riverside, Calif., priced $140.38 million of series 2010 electric revenue bonds, according to a pricing sheet.
The bonds (/AA-/AA-) were sold through Bank of America Merrill Lynch.
The sale included $133.29 million of series 2010A Build America Bonds and $7.09 million of series 2010B tax-exempt bonds.
The 2010A bonds are due 2020 to 2022 with term bonds due 2025, 2030 and 2040. Serial coupons range from 6.015% to 6.515%, all priced at par. The 2025 bonds have a 7.015% coupon priced at par, and the 2030 bonds have a 7.455% coupon priced at par. The 2040 bonds have a 7.605% coupon priced at par.
The 2010B bonds are due 2016 to 2019 with 3% to 5% coupons.
Proceeds will be used to construct improvements to the city's electric power generation system.
| Issuer: | Riverside, Calif.
|
| Issue: | Series 2010 electric revenue bonds
|
| Amount: | $140.38 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 16
|
|
|
| $133.29 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.3 million | 2020 | Serial | 6.015% | 100
|
| $2.39 million | 2021 | Serial | 6.265% | 100
|
| $2.49 million | 2022 | Serial | 6.515% | 100
|
| $8.145 million | 2025 | Term | 7.015% | 100
|
| $16.32 million | 2030 | Term | 7.455% | 100
|
| $101.645 million | 2040 | Term | 7.605% | 100
|
|
|
| $7.09 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $95,000 | 2016 | Serial | 3% | 102.515
|
| $2.345 million | 2017 | Serial | 4% | 106.226
|
| $2.44 million | 2018 | Serial | 5% | 111.155
|
| $2.21 million | 2019 | Serial | 4% | 102.531
|
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