By Sheri Kasprzak
New York, Nov. 10 - The West Basin Municipal Water District of California sold $60.275 million of series 2011B refunding revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA-) were sold through De La Rosa & Co. Inc. and Citigroup Global Markets Inc.
The bonds are due 2023 to 2032 with a term bond due in 2036. The serial coupons range from 4% to 5%. The yields range from 3.24% to 4.16%. The 2036 bonds have a 5% coupon priced at 105.5.
Proceeds will be used to refund the district's series 2003A and 2010A certificates of participation.
| Issuer: | West Basin Municipal Water District
|
| Issue: | Series 2011B refunding revenue bonds
|
| Amount: | $60.275 million
|
| Type: | Negotiated
|
| Underwriters: | De La Rosa & Co. Inc. and Citigroup Global Markets Inc.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 17
|
|
|
| Amount | Maturity | Type | Coupon | Yield/Price
|
| $435,000 | 2023 | Serial | 5% | 3.24%
|
| $1.95 million | 2024 | Serial | 5% | 3.38%
|
| $8.13 million | 2025 | Serial | 5% | 3.50%
|
| $2.05 million | 2026 | Serial | 4% | 3.84%
|
| $3.36 million | 2026 | Serial | 5% | 3.61%
|
| $3.525 million | 2027 | Serial | 5% | 3.73%
|
| $3.705 million | 2028 | Serial | 5% | 3.83%
|
| $3.89 million | 2029 | Serial | 5% | 3.94%
|
| $4.08 million | 2030 | Serial | 5% | 4.02%
|
| $4.285 million | 2031 | Serial | 5% | 4.09%
|
| $4.5 million | 2032 | Serial | 5% | 4.16%
|
| $20.365 million | 2036 | Term | 5% | 105.5
|
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