By Sheri Kasprzak
New York, May 5 - The Sacramento Municipal Utility District in California priced on Tuesday $200 million of series 2009V electric revenue bonds, a sellside source familiar with the deal said. The bonds were offered as Build America Bonds.
The bonds (A1/A+/A) are due May 15, 2036 and priced at par to yield 6.322%.
Goldman, Sachs & Co. and Merrill Lynch & Co. Inc. were the lead managers with De La Rosa & Co., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., M.R. Beal & Co. and Ramirez & Co. as the co-managers.
Proceeds will be used to construct improvements to the district's electrical system.
| Issuer: | Sacramento Municipal Utility District
|
| Issue: | Series 2009V electric revenue bonds
|
| Amount: | $200 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Merrill Lynch & Co. (lead); De La Rosa & Co., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., M.R. Beal & Co. and Ramirez & Co. (co-managers)
|
| Maturity: | May 15, 2036
|
| Coupon: | 6.322%
|
| Price: | Par
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | May 5
|
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