Published on 2/13/2013 in the Prospect News Municipals Daily.
New Issue: San Francisco Public Utilities Commission details $331.59 million wastewater deal
By Sheri Kasprzak
New York, Feb. 12 - The San Francisco Public Utilities Commission detailed its $331,585,000 of series 2013B wastewater revenue bonds, said a pricing sheet.
The bonds (Aa3/AA-/) were sold competitively. Goldman, Sachs & Co. won the bid with a 3.578% true interest cost.
The bonds are due 2023 to 2036 with term bonds due in 2039 and 2042. The serial coupons range from 4% to 5%. The 2039 bonds have a 4% coupon priced at 104.042 and the 2042 bonds have a 4% coupon priced at 103.218.
Proceeds will be used to finance capital projects and retire commercial paper notes.
| Issuer: | San Francisco Public Utilities Commission
|
| Issue: | Series 2013B wastewater revenue bonds
|
| Amount: | $331,585,000
|
| Type: | Competitive
|
| Underwriter: | Goldman, Sachs & Co.
|
| TIC: | 3.578%
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 27
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $8,835,000 | 2023 | Serial | 5% | 125.97
|
| $9.28 million | 2024 | Serial | 5% | 124.783
|
| $9.13 million | 2025 | Serial | 5% | 123.707
|
| $10,915,000 | 2026 | Serial | 5% | 122.931
|
| $11,475,000 | 2027 | Serial | 5% | 122.161
|
| $12,065,000 | 2028 | Serial | 5% | 121.492
|
| $12.68 million | 2029 | Serial | 5% | 120.922
|
| $13.33 million | 2030 | Serial | 5% | 120.355
|
| $14,015,000 | 2031 | Serial | 5% | 119.417
|
| $14,735,000 | 2032 | Serial | 5% | 118.951
|
| $15,415,000 | 2033 | Serial | 4% | 108.629
|
| $16,045,000 | 2034 | Serial | 4% | 107.848
|
| $16,695,000 | 2035 | Serial | 4% | 107.245
|
| $17,375,000 | 2036 | Serial | 4% | 106.732
|
| $56.5 million | 2039 | Term | 4% | 104.042
|
| $93,095,000 | 2042 | Term | 4% | 103.218
|
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