By Sheri Kasprzak
New York, June 26 - The city of St. Petersburg in Florida priced $76.39 million in series 2009 revenue bonds (Aa3//AA-) on Tuesday, according to an official statement released Friday.
The sale included $53.015 million in series 2009A public utility revenue bonds and $23.375 million in series 2009B public utility refunding revenue bonds.
The 2009A bonds are due 2010 to 2037 with term bonds due 2036 and 2039. The serials have coupons from 3% to 5.5% with yields from 1.5% to 5.15%. The 2036 bonds have a 5% coupon to yield 5.207% and the 2039 bonds have a 5.25% coupon to yield 5.316%.
The 2009B bonds are due 2010 to 2018 with coupons from 2% to 5% and yields from 1.25% to 4%.
Wachovia Bank was the senior manager for the 2009A bonds and Citigroup Global Markets Inc. was the lead manager for the 2009B bonds.
Proceeds will be used to construct, acquire and maintain improvements to the city's water and wastewater system, as well as refund the city's series 1999B bonds.
| Issuer: | City of St. Petersburg
|
| Issue: | Series 2009 public utility revenue bonds
|
| Amount: | $76.39 million
|
| Type: | Negotiated
|
| Underwriters: | Wachovia Bank (for 2009A); Citigroup Global Markets Inc. (lead for 2009B)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | June 23
|
| Settlement date: | July 14
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 4% | 1.50%
|
| 2011 | Serial | 3% | 1.90%
|
| 2012 | Serial | 3% | 2.25%
|
| 2013 | Serial | 3% | 2.70%
|
| 2014 | Serial | 3.5% | 3.10%
|
| 2015 | Serial | 4% | 3.30%
|
| 2016 | Serial | 4% | 3.55%
|
| 2017 | Serial | 4% | 3.80%
|
| 2018 | Serial | 4% | 4.00%
|
| 2019 | Serial | 4% | 4.15%
|
| 2020 | Serial | 4% | 4.25%
|
| 2021 | Serial | 4.25% | 4.45%
|
| 2022 | Serial | 4.375% | 4.55%
|
| 2023 | Serial | 4.5% | 4.65%
|
| 2024 | Serial | 4.5% | 4.75%
|
| 2025 | Serial | 4.625% | 4.80%
|
| 2026 | Serial | 4.75% | 4.90%
|
| 2027 | Serial | 4.75% | 4.95%
|
| 2028 | Serial | 5% | 5.00%
|
| 2029 | Serial | 5% | 5.05%
|
| 2030 | Serial | 5% | 5.10%
|
| 2031 | Serial | 5% | 5.15%
|
| 2037 | Serial | 5.5% | 5.10%
|
| 2036 | Term | 5% | 5.207%
|
| 2039 | Term | 5.25% | 5.316%
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 1.25%
|
| 2011 | Serial | 2% | 1.75%
|
| 2012 | Serial | 5% | 2.25%
|
| 2013 | Serial | 5% | 2.70%
|
| 2014 | Serial | 5% | 3.10%
|
| 2015 | Serial | 5% | 3.23%
|
| 2016 | Serial | 5% | 3.47%
|
| 2017 | Serial | 5% | 3.73%
|
| 2018 | Serial | 5% | 4.00%
|
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