Published on 9/10/2015 in the Prospect News Municipals Daily.
New Issue: Emerald Coast Utilities, Fla., brings $52.29 million of utility bonds
By Sheri Kasprzak
New York, Sept. 10 – The Emerald Coast Utilities Authority of Florida sold $52,285,000 of series 2015 utility system refunding revenue bonds, according to a pricing sheet.
The bonds (/AA/) were sold through Raymond James/Morgan Keegan.
The bonds are due 2016 to 2036 with 2% to 5% coupons and 0.25% to 4% yields.
Proceeds will be used to finance capital improvements to the authority’s sewer lines, water mains and roadways, as well as refund its series 2006 revenue bonds.
| Issuer: | Emerald Coast Utilities Authority
|
| Issue: | Series 2015 utility system refunding revenue bonds
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| Amount: | $52,285,000
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| Type: | Negotiated
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| Underwriters: | Raymond James/Morgan Keegan (lead), First Southwest Co. and Wells Fargo Securities LLC (co-managers)
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| Rating: | Standard & Poor’s: AA
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| Pricing date: | Sept. 10
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| Settlement date: | Oct. 5
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $15,000 | 2016 | Serial | 2% | 100.417 | 0.25%
|
| $1,815,000 | 2017 | Serial | 4% | 104.164 | 0.62%
|
| $1.89 million | 2018 | Serial | 4% | 106.716 | 0.96%
|
| $1.97 million | 2019 | Serial | 5% | 111.628 | 1.32%
|
| $2,065,000 | 2020 | Serial | 5% | 113.878 | 1.60%
|
| $2,175,000 | 2021 | Serial | 5% | 115.332 | 1.91%
|
| $2,285,000 | 2022 | Serial | 3% | 104.578 | 2.21%
|
| $2.35 million | 2023 | Serial | 5% | 116.817 | 2.45%
|
| $2.47 million | 2024 | Serial | 5% | 117.529 | 2.62%
|
| $2.6 million | 2025 | Serial | 3% | 101.37 | 2.83%
|
| $2,675,000 | 2026 | Serial | 3% | 99.647 | 3.04%
|
| $2,755,000 | 2027 | Serial | 3.25% | 100.076 | 3.24%
|
| $2.84 million | 2028 | Serial | 3.5% | 100.546 | 3.43%
|
| $2,945,000 | 2029 | Serial | 3.625% | 100.19 | 3.60%
|
| $3.05 million | 2030 | Serial | 3.75% | 100.461 | 3.69%
|
| $3,165,000 | 2031 | Serial | 3.75% | 99.421 | 3.80%
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| $3.29 million | 2032 | Serial | 5% | 112 | 3.47%
|
| $3,455,000 | 2033 | Serial | 5% | 111.581 | 3.52%
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| $3.63 million | 2034 | Serial | 5% | 111.33 | 3.55%
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| $3,815,000 | 2035 | Serial | 3.75% | 97.317 | 3.95%
|
| $1.03 million | 2036 | Serial | 4% | 100 | 4.00%
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