Published on 4/10/2014 in the Prospect News Municipals Daily.
New Issue: San Antonio, Texas, prices $203.93 million of water system revenue debt
By Sheri Kasprzak
New York, April 10 - The City of San Antonio, Texas, priced $203.93 million of series 2014 water system junior lien revenue and refunding bonds, said a pricing sheet.
The deal included $103.93 million of series 2014A bonds and $100 million of series 2014B variable-rate bonds.
The 2014A bonds are due 2015 to 2029 with 2% to 5% coupons and 0.16% to 3.27% yields.
The 2014B bonds are due May 1, 2044 and have a 1.5% initial coupon priced at par.
The bonds (Aa2/AA/AA) were sold through senior manager Barclays.
Proceeds will be used to finance capital improvements and refund existing debt.
| Issuer: | City of San Antonio
|
| Issue: | Series 2014 water system junior lien revenue and refunding bonds
|
| Amount: | $203.93 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | April 9
|
| Settlement date: | April 30
|
|
|
| $103.93 million series 2014A revenue and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.14 million | 2015 | Serial | 2% | 101.914 | 0.16%
|
| $4.48 million | 2016 | Serial | 3% | 105.281 | 0.4%
|
| $3,425,000 | 2017 | Serial | 4% | 109.882 | 0.71%
|
| $3,655,000 | 2018 | Serial | 3% | 107.655 | 1.06%
|
| $7.71 million | 2019 | Serial | 5% | 117.464 | 1.4%
|
| $7.96 million | 2020 | Serial | 5% | 118.492 | 1.76%
|
| $8,375,000 | 2021 | Serial | 5% | 119.106 | 2.07%
|
| $8.8 million | 2022 | Serial | 5% | 119.233 | 2.36%
|
| $9,265,000 | 2023 | Serial | 5% | 119.315 | 2.59%
|
| $9,735,000 | 2024 | Serial | 5% | 119.046 | 2.72%
|
| $10,235,000 | 2025 | Serial | 5% | 118.033 | 2.83%
|
| $10.77 million | 2026 | Serial | 5% | 116.848 | 2.96%
|
| $5.19 million | 2027 | Serial | 5% | 115.857 | 3.07%
|
| $5,455,000 | 2028 | Serial | 5% | 114.876 | 3.18%
|
| $5,735,000 | 2029 | Serial | 5% | 114.08 | 3.27%
|
|
|
| $100 million series 2014B variable-rate junior lien revenue bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| May 1, 2044 | Term | 1.5% | 100 | 1.5%
|
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