By Sheri Kasprzak
New York, Jan. 20 - The San Marcos Redevelopment Agency of California sold $52.39 million of series 2011 housing set-aside tax allocation bonds on Thursday, said a pricing sheet.
The bonds (AA-) were sold through Piper Jaffray & Co.
The bonds are due 2013 to 2021 with term bonds due 2026 and 2030. The serial coupons range from 3.25% to 7%. The 2026 bonds have an 8% coupon priced at 96.05 and the 2030 bonds have an 8.5% coupon priced at 96.598.
Proceeds will be used to finance improvements to low- to moderate-income housing projects in the San Marcos area, including improvements to existing housing facilities and the construction of new housing projects, as well as to refund the agency's series 1997A and 2008A bonds.
| Issuer: | San Marcos Redevelopment Agency
|
| Issue: | Series 2011 housing set-aside tax allocation bonds
|
| Amount: | $52.39 million
|
| Type: | Negotiated
|
| Underwriter: | Piper Jaffray & Co.
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 24
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.69 million | 2013 | Serial | 3.25% | 99.075
|
| $1.745 million | 2014 | Serial | 4% | 98.979
|
| $1.815 million | 2015 | Serial | 100
|
| $1.905 million | 2016 | Serial | 100
|
| $2.005 million | 2017 | Serial | 98.856
|
| $2.12 million | 2018 | Serial | 6.125% | 97.441
|
| $2.245 million | 2019 | Serial | 6.5% | 97.044
|
| $2.395 million | 2020 | Serial | 6.75% | 96.838
|
| $2.555 million | 2021 | Serial | 7% | 96.659
|
| $15.96 million | 2026 | Term | 8% | 96.05
|
| $17.955 million | 2030 | Term | 8.5% | 96.598
|
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