By Sheri Kasprzak
New York, May 25 - The Central Utah Water Conservancy District sold $233 million in series 2010A water conservancy revenue Build America Bonds, according to a term sheet.
The bonds (/AA+/AA+) were sold through George K. Baum & Co.
The bonds are due 2020 to 2031 with a term bond due 2040. The serial coupons range from 4.15% to 5.66%, all priced at par. The 2040 bonds have a 5.7% coupon, priced at par.
Proceeds will be used to fund capital improvements, as well as to defease the district's series 2009 bond anticipation notes.
The district, based in Orem, Utah, is a wholesale water provider.
| Issuer: | Central Utah Water Conservancy District
|
| Issue: | Series 2010A water conservancy revenue Build America Bonds
|
| Amount: | $233 million
|
| Type: | Negotiated
|
| Underwriter: | George K. Baum & Co. (lead)
|
| Ratings: | Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | May 25
|
| Settlement date: | June 2
|
|
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 4.15% | 100
|
| 2021 | Serial | 4.4% | 100
|
| 2022 | Serial | 4.55% | 100
|
| 2023 | Serial | 4.75% | 100
|
| 2024 | Serial | 4.9% | 100
|
| 2025 | Serial | 5% | 100
|
| 2026 | Serial | 5.15% | 100
|
| 2027 | Serial | 5.3% | 100
|
| 2028 | Serial | 5.45% | 100
|
| 2029 | Serial | 5.55% | 100
|
| 2030 | Serial | 5.65% | 100
|
| 2031 | Serial | 5.66% | 100
|
| 2040 | Term | 5.7% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
