Published on 4/23/2013 in the Prospect News Municipals Daily.
New Issue: South Central Connecticut Water prices $93.99 million bonds
By Sheri Kasprzak
New York, April 23 - The South Central Connecticut Regional Water Authority sold $93,995,000 of series 2013 water system revenue bonds, said a pricing sheet.
The bonds (Aa3/A+/) were sold through Janney Montgomery Scott LLC and Piper Jaffray & Co.
The deal included $31.69 million of 28th series 2013A bonds and $62,305,000 of 28th series 2013B bonds.
The 2013A bonds are due 2013 to 2029 with term bonds due in 2033, 2038 and 2043. The serial coupons range from 1% to 3.125%. The 2033 bonds have a 5% coupon priced at 115.497. The 2038 bonds have a 5% coupon priced at 113.516. The 2043 bonds have a 5% coupon priced at 112.921.
The 2013B bonds are due 2014 to 2029 with coupons from 2% to 5%.
Proceeds will be used to finance water system improvements and refund existing debt.
| Issuer: | South Central Connecticut Regional Water Authority
|
| Issue: | Series 2013 water system revenue bonds
|
| Amount: | $93,995,000
|
| Type: | Negotiated
|
| Underwriter: | Janney Montgomery Scott LLC and Piper Jaffray & Co. (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | April 23
|
| Settlement date: | May 7
|
|
|
| $31.69 million 28th series 2013A revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $940,000 | 2013 | Serial | 1% | 100.163
|
| $610,000 | 2014 | Serial | 2% | 102.016
|
| $620,000 | 2015 | Serial | 2% | 103.394
|
| $635,000 | 2016 | Serial | 2% | 104.279
|
| $650,000 | 2017 | Serial | 3% | 108.92
|
| $670,000 | 2018 | Serial | 3% | 109.742
|
| $690,000 | 2019 | Serial | 3% | 110.145
|
| $710,000 | 2020 | Serial | 3% | 109.74
|
| $730,000 | 2021 | Serial | 3% | 109.062
|
| $750,000 | 2022 | Serial | 2% | 99.663
|
| $765,000 | 2023 | Serial | 2.25% | 99.363
|
| $785,000 | 2024 | Serial | 3% | 103.762
|
| $810,000 | 2025 | Serial | 3% | 102.023
|
| $835,000 | 2026 | Serial | 3% | 100.318
|
| $860,000 | 2027 | Serial | 3% | 99.08
|
| $885,000 | 2028 | Serial | 3% | 97.955
|
| $915,000 | 2029 | Serial | 3.125% | 98.553
|
| $4.11 million | 2033 | Term | 5% | 115.497
|
| $6,445,000 | 2038 | Term | 5% | 113.516
|
| $8,275,000 | 2043 | Term | 5% | 112.921
|
|
|
| $62,305,000 28th series 2013B revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,125,000 | 2014 | Serial | 2% | 102.016
|
| $5.44 million | 2015 | Serial | 3% | 105.613
|
| $1 million | 2016 | Serial | 3% | 107.473
|
| $3,715,000 | 2016 | Serial | 4% | 110.666
|
| $2 million | 2017 | Serial | 2% | 104.771
|
| $4,805,000 | 2017 | Serial | 4% | 113.069
|
| $7,085,000 | 2018 | Serial | 5% | 119.891
|
| $7,435,000 | 2019 | Serial | 5% | 122.082
|
| $7,795,000 | 2020 | Serial | 5% | 123.364
|
| $3.18 million | 2021 | Serial | 5% | 124.296
|
| $3.35 million | 2022 | Serial | 5% | 125.175
|
| $4,705,000 | 2023 | Serial | 5% | 123.466
|
| $1.84 million | 2024 | Serial | 5% | 121.784
|
| $775,000 | 2025 | Serial | 4% | 111.423
|
| $1.68 million | 2026 | Serial | 4% | 109.786
|
| $1,735,000 | 2027 | Serial | 3% | 99.08
|
| $1,795,000 | 2028 | Serial | 3% | 97.955
|
| $845,000 | 2029 | Serial | 3.125% | 98.553
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
