By Sheri Kasprzak
New York, July 8 – The City of Vineland, N.J., sold $80 million of series 2014 electric utility general obligation bonds, according to a pricing sheet.
The bonds (/AA-/) were sold competitively with William Blair & Co. winning the bid at a 3.742370% true interest cost.
The bonds are due 2015 to 2044 with 2% to 5% coupons and 0.27% to 4.10% yields.
Proceeds will be used to finance the improvement and upgrade of the city’s electric system.
| Issuer: | Vineland, N.J.
|
| Issue: | Series 2014 electric utility general obligation bonds
|
| Amount: | $80 million
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| Type: | Competitive
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| Underwriter: | William Blair & Co. LLC (winner)
|
| TIC: | 3.742370%
|
| Rating: | Standard & Poor’s: AA-
|
| Pricing date: | July 8
|
| Settlement date: | July 16
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.75 million | 2015 | Serial | 2% | 101.721 | 0.27%
|
| $1.75 million | 2016 | Serial | 2% | 103.017 | 0.48%
|
| $1.75 million | 2017 | Serial | 3% | 106.471 | 0.81%
|
| $1.75 million | 2018 | Serial | 5% | 114.998 | 1.15%
|
| $1.75 million | 2019 | Serial | 5% | 116.79 | 1.50%
|
| $2 million | 2020 | Serial | 5% | 118.114 | 1.80%
|
| $2 million | 2021 | Serial | 5% | 118.708 | 2.11%
|
| $2 million | 2022 | Serial | 5% | 118.816 | 2.40%
|
| $2 million | 2023 | Serial | 5% | 118.79 | 2.64%
|
| $2.5 million | 2024 | Serial | 5% | 117.303 | 2.81%
|
| $2.5 million | 2025 | Serial | 5% | 116.353 | 2.92%
|
| $2.5 million | 2026 | Serial | 4% | 106.372 | 3.18%
|
| $2.5 million | 2027 | Serial | 4% | 105.57 | 3.28%
|
| $2.75 million | 2028 | Serial | 4% | 104.775 | 3.38%
|
| $2.75 million | 2029 | Serial | 4% | 104.065 | 3.47%
|
| $2.75 million | 2030 | Serial | 4% | 103.439 | 3.55%
|
| $2.75 million | 2031 | Serial | 4% | 102.895 | 3.62%
|
| $2.75 million | 2032 | Serial | 4% | 102.355 | 3.69%
|
| $3 million | 2033 | Serial | 4% | 101.894 | 3.75%
|
| $3 million | 2034 | Serial | 4% | 101.511 | 3.80%
|
| $3 million | 2035 | Serial | 4% | 101.131 | 3.85%
|
| $3 million | 2036 | Serial | 4% | 100.601 | 3.92%
|
| $3 million | 2037 | Serial | 4% | 100.3 | 3.96%
|
| $3.5 million | 2038 | Serial | 4% | 100 | 4.00%
|
| $3.5 million | 2039 | Serial | 4% | 99.374 | 4.04%
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| $3.5 million | 2040 | Serial | 4% | 99.041 | 4.06%
|
| $3.5 million | 2041 | Serial | 4% | 98.859 | 4.07%
|
| $3.5 million | 2042 | Serial | 4% | 98.507 | 4.09%
|
| $3.5 million | 2043 | Serial | 4% | 98.312 | 4.10%
|
| $3.5 million | 2044 | Serial | 4% | 98.282 | 4.10%
|
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