Published on 2/3/2016 in the Prospect News Municipals Daily.
New Issue: Kentucky Municipal Power prices $71.24 million of Prairie project bonds
By Sheri Kasprzak
New York, Feb. 3 – The Kentucky Municipal Power Agency sold $71,235,000 of series 2016A Prairie State project power system revenue refunding bonds, according to a pricing sheet.
The bonds (A3/AA-/) were sold through senior manager Goldman, Sachs & Co.
The bonds are due 2031 to 2036 with 5% coupons and yields from 3.09% to 3.36%.
Proceeds will be used to refund the agency’s series 2007A revenue bonds.
| Issuer: | Kentucky Municipal Power Agency
|
| Issue: | Series 2016A Prairie State project power system revenue refunding bonds
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| Amount: | $71,235,000
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| Type: | Negotiated
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| Underwriters: | Goldman, Sachs & Co. (lead), Morgan Stanley & Co. LLC and Raymond James/Morgan Keegan (co-managers)
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| Ratings: | Moody’s: A3
|
| Standard & Poor’s: AA-
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 11
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $10.44 million | 2031 | Serial | 5% | 117.09 | 3.09%
|
| $10,975,000 | 2032 | Serial | 5% | 116.404 | 3.16%
|
| $11.54 million | 2033 | Serial | 5% | 115.917 | 3.21%
|
| $12,125,000 | 2034 | Serial | 5% | 115.432 | 3.26%
|
| $12.75 million | 2035 | Serial | 5% | 114.95 | 3.31%
|
| $13,405,000 | 2036 | Serial | 5% | 114.471 | 3.36%
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