New Issue: City of Scottsdale, Ariz., prices $120 million G.O. bonds with yields from 2.1% to 4.66%

By Sheri Kasprzak

New York, April 29 - The City of Scottsdale in Arizona priced $120 million in series 2008 general obligation bonds, according to an official statement released Tuesday.

The bonds (Aaa/AAA/AAA) were sold on a competitive basis with Piper Jaffray as the financial adviser. The winning bidder could not be determined by press time Tuesday.

The sale included $100 million in series 2008A bonds and $20 million in series 2008B bonds.

The bonds are due 2009 to 2030 with a term bond due 2034. The serial bonds have coupons from 3% to 5% with yields ranging from 2.1% to 4.63%. The term bond has a 4.5% coupon with a 4.66% yield.

Proceeds will be used for various community projects, including transportation, park systems and a library.

Issuer:	City of Scottsdale, Ariz.
Issue:	Series 2008 general obligation bonds
Amount:	$120 million
Type:	Competitive
Ratings:	Moody's: Aaa
	S&P: AAA
	Fitch: AAA
Pricing date:	April 23
Maturity	Type	Coupon	Yield
2009	Serial	3%	2.10%
2010	Serial	3%	2.35%
2011	Serial	3%	2.65%
2012	Serial	3%	2.88%
2013	Serial	3.25%	3.01%
2014	Serial	3.25%	3.15%
2015	Serial	3.5%	3.30%
2016	Serial	4%	3.46%
2017	Serial	4.25%	3.60%
2018	Serial	4.5%	3.62%
2019	Serial	5%	3.80%
2020	Serial	4%	3.92%
2021	Serial	5%	4.01%
2022	Serial	4%	4.17%
2023	Serial	4.125%	4.27%
2024	Serial	4.125%	4.37%
2025	Serial	4.25%	4.42%
2026	Serial	4.75%	4.49%
2027	Serial	4.75%	4.52%
2028	Serial	5%	4.40%
2029	Serial	4.5%	4.60%
2030	Serial	4.5%	4.63%
2034	Term	4.5%	4.66%

© 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.