New Issue: Westlands Water District, Calif., sells $77 million of refunding bonds

By Sheri Kasprzak

New York, Oct. 11 - The Westlands Water District of California sold $77 million of series 2012A refunding revenue bonds, said a pricing sheet.

The bonds (/A+/AA-) were sold through Citigroup Global Markets Inc.

The bonds are due 2013 to 2032 with a term bond due in 2034. The serial coupons range from 2% to 5%. The 2034 bonds have a 5% coupon priced at 111.959.

Proceeds will be used to refund the district's series 2002A certificates of participation.

Issuer:	Westlands Water District, Calif.
Issue:	Series 2012A refunding revenue bonds
Amount:	$77 million
Type:	Negotiated
Underwriter:	Citigroup Global Markets Inc. (lead)
Rating:	Standard & Poor's: A+
Fitch: AA-
Pricing date:	Oct. 11
Settlement date:	Oct. 25
Amount	Maturity	Type	Coupon	Price
$2,315,000	2013	Serial	2%	101.27
$2.26 million	2014	Serial	3%	104.219
$2,325,000	2015	Serial	3%	106.011
$2,395,000	2016	Serial	4%	111.261
$2.49 million	2017	Serial	4%	113.051
$2.59 million	2018	Serial	4%	114.191
$2,695,000	2019	Serial	4%	114.324
$2.8 million	2020	Serial	4%	113.837
$2,915,000	2021	Serial	5%	120.439
$3.06 million	2022	Serial	5%	120.252
$3,215,000	2023	Serial	5%	118.536
$3,375,000	2024	Serial	5%	117.783
$3,545,000	2025	Serial	5%	116.664
$3.72 million	2026	Serial	5%	116.017
$3,905,000	2027	Serial	5%	115.375
$4.1 million	2028	Serial	5%	114.827
$4,305,000	2029	Serial	5%	114.283
$4,525,000	2030	Serial	5%	113.741
$4,745,000	2031	Serial	5%	113.203
$4,985,000	2032	Serial	5%	112.579
$10,735,000	2034	Term	5%	111.959

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