New Issue: West Basin Municipal Water, Calif., brings $50.33 million of bonds

By Sheri Kasprzak

New York, March 28 - The West Basin Municipal Water District of California brought $50,325,000 of series 2012A refunding revenue bonds, according to an official statement.

The bonds (Aa2/AA-/) were sold through lead managers Goldman, Sachs & Co. and Morgan Stanley & Co. LLC.

The bonds are due 2014 to 2029 with 3% to 5% coupons and yields from 0.62% to 3.63%.

Proceeds will be used to refund the district's series 2003A and 2010A certificates.

Issuer:	West Basin Municipal Water District
Issue:	Series 2012A refunding revenue bonds
Amount:	$50,325,000
Type:	Negotiated
Underwriters:	Goldman, Sachs & Co. and Morgan Stanley & Co. LLC (lead)
Ratings:	Moody's: Aa2
	Standard & Poor's: AA-
Pricing date:	March 20
Settlement date:	April 12
Amount	Maturity	Type	Coupon	Yield
$2,055,000	2014	Serial	3%	0.62%
$2,115,000	2015	Serial	4%	0.87%
$2.2 million	2016	Serial	4%	1.11%
$2,285,000	2017	Serial	4%	1.40%
$2.38 million	2018	Serial	4%	1.85%
$2,475,000	2019	Serial	3%	2.17%
$2.55 million	2020	Serial	5%	2.47%
$2,675,000	2021	Serial	5%	2.75%
$2.81 million	2022	Serial	5%	2.95%
$2.95 million	2023	Serial	5%	3.11%
$3.1 million	2024	Serial	5%	3.24%
$590,000	2025	Serial	5%	3.33%
$3,505,000	2026	Serial	5%	3.42%
$5.91 million	2027	Serial	5%	3.50%
$6,205,000	2028	Serial	5%	3.57%
$6.52 million	2029	Serial	5%	3.63%

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