Published on 6/1/2016 in the Prospect News Municipals Daily.
New Issue: Paducah Electric Plant Board, Ky., brings $103.38 million refunding bonds
By Sheri Kasprzak
New York, June 1 – The Electric Plant Board of the City of Paducah, Ky., priced $103,375,000 of series 2016A refunding revenue bonds, said a pricing sheet.
The bonds (Baa1/A-) were sold through Goldman, Sachs & Co.
The bonds are due 2022 to 2035 with 5% coupons and yields from 1.97% to 3.14%.
Proceeds will be used to refund the board’s series 2009A revenue bonds.
| Issuer: | Electric Plant Board of the City of Paducah, Ky.
|
| Issue: | Series 2016 refunding revenue bonds
|
| Amount: | $103,375,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co.
|
| Ratings: | Moody’s: Baa1
|
| S&P: A-
|
| Pricing date: | May 24
|
| Settlement date: | June 23
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $840,000 | 2022 | Serial | 5% | 117.792 | 1.97%
|
| $830,000 | 2023 | Serial | 5% | 119.237 | 2.13%
|
| $6,345,000 | 2024 | Serial | 5% | 120.396 | 2.28%
|
| $6,665,000 | 2025 | Serial | 5% | 121.032 | 2.45%
|
| $7.01 million | 2026 | Serial | 5% | 121.308 | 2.62%
|
| $7.37 million | 2027 | Serial | 5% | 119.714 | 2.78%
|
| $7,745,000 | 2028 | Serial | 5% | 118.927 | 2.86%
|
| $8,145,000 | 2029 | Serial | 5% | 118.438 | 2.91%
|
| $8.56 million | 2030 | Serial | 5% | 118.048 | 2.95%
|
| $9 million | 2031 | Serial | 5% | 117.563 | 3.00%
|
| $9.46 million | 2032 | Serial | 5% | 117.177 | 3.04%
|
| $9,945,000 | 2033 | Serial | 5% | 116.888 | 3.07%
|
| $10.45 million | 2034 | Serial | 5% | 116.505 | 3.11%
|
| $11.01 million | 2035 | Serial | 5% | 116.218 | 3.14%
|
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