By Sheri Kasprzak
New York, Nov. 17 - The Western Minnesota Municipal Power Agency priced Tuesday $141.645 million of series 2010 power supply revenue bonds, said a pricing sheet.
The sale included $9.215 million of series 2010A bonds, $32.515 million of series 2010B federally taxable bonds and $99.915 million of series 2010C taxable bonds.
The 2010A bonds are due 2017 to 2018 with 3% to 5% coupons. The 2010B bonds are due in 2012, 2013 and 2016 with coupons from 1.86% to 3.62%, all priced at par. The 2010C bonds are due Jan. 1, 2046 and have a 6.77% coupon priced at par.
Citigroup Global Markets Inc. and Barclays Capital Inc. were the senior managers.
Proceeds will be used to finance Western Minnesota's interest in the CapX Fargo Phase 1 and CapX Fargo Phase 2 power supply projects as well as to finance capital additions to the Laramie River Station project.
Based in Ortonville, Minn., the agency operates a group of municipally owned electric power providers.
| Issuer: | Western Minnesota Municipal Power Agency
|
| Issue: | Series 2010 power supply revenue bonds
|
| Amount: | $141.645 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Barclays Capital Inc. (lead)
|
| Pricing date: | Nov. 16
|
| Settlement date: | Dec. 2
|
|
|
| $9.215 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $270,000 | 2017 | Serial | 3% | 100
|
| $4.23 million | 2017 | Serial | 5% | 111.038
|
| $780,000 | 2018 | Serial | 4% | 104.257
|
| $3.935 million | 2018 | Serial | 5% | 110.520
|
|
|
| $32.515 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $13.16 million | 2012 | Serial | 1.86% | 100
|
| $13.855 million | 2013 | Serial | 2.19% | 100
|
| $5.5 million | 2016 | Serial | 3.62% | 100
|
|
|
| $99.915 million series 2010C
|
| Amount | Maturity | Type | Coupon | Price
|
| $99.915 million | Jan. 1, 2046 | Term | 6.77% | 100
|
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