Published on 3/21/2013 in the Prospect News Municipals Daily.
New Issue: Sacramento brings $215.19 million of water revenue bonds
By Sheri Kasprzak
New York, March 21 - The City of Sacramento sold $215,185,000 of series 2013 water revenue bonds, said a pricing sheet.
The bonds (/AA-/AA-) were sold through senior manager Goldman, Sachs & Co.
The bonds are due 2014 to 2033 with term bonds due in 2038 and 2042. The serial coupons range from 1% to 5%. The 2038 bonds have a 5% coupon priced at 113.379, and the 2042 bonds have a 5% coupon priced at 112.632.
Proceeds will be used to finance the rehabilitation of water treatment plants, the retrofitting of water meters, the replacement of pipelines and the rehabilitation of groundwater wells.
| Issuer: | City of Sacramento
|
| Issue: | Series 2013 water revenue bonds
|
| Amount: | $215,185,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), De La Rosa & Co. Inc., Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC and Stone & Youngberg (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | March 21
|
| Settlement date: | March 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2 million | 2014 | Serial | 1% | 101.008
|
| $1.54 million | 2014 | Serial | 5% | 106.692
|
| $2 million | 2015 | Serial | 1% | 101.324
|
| $1,645,000 | 2015 | Serial | 5% | 110.961
|
| $1 million | 2016 | Serial | 3% | 107.946
|
| $2.78 million | 2016 | Serial | 5% | 114.709
|
| $1 million | 2017 | Serial | 4% | 113.697
|
| $2.96 million | 2017 | Serial | 5% | 118.032
|
| $1 million | 2018 | Serial | 4% | 115.003
|
| $3.15 million | 2018 | Serial | 5% | 120.249
|
| $4.36 million | 2019 | Serial | 5% | 121.702
|
| $4.58 million | 2020 | Serial | 5% | 122.691
|
| $4,815,000 | 2021 | Serial | 5% | 123.414
|
| $5,065,000 | 2022 | Serial | 5% | 123.714
|
| $1.6 million | 2023 | Serial | 4% | 114.777
|
| $3,715,000 | 2023 | Serial | 5% | 123.956
|
| $5.58 million | 2024 | Serial | 5% | 124.148
|
| $5,865,000 | 2025 | Serial | 5% | 120.775
|
| $1.6 million | 2026 | Serial | 3.5% | 104.446
|
| $4,555,000 | 2026 | Serial | 5% | 119.569
|
| $6.46 million | 2027 | Serial | 5% | 118.774
|
| $6.79 million | 2028 | Serial | 5% | 117.886
|
| $7,135,000 | 2029 | Serial | 5% | 117.299
|
| $7,505,000 | 2030 | Serial | 5% | 116.715
|
| $7.89 million | 2031 | Serial | 5% | 116.232
|
| $8.29 million | 2032 | Serial | 5% | 115.846
|
| $8.72 million | 2033 | Serial | 5% | 115.463
|
| $50,775,000 | 2038 | Term | 5% | 113.379
|
| $50.82 million | 2042 | Term | 5% | 112.632
|
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