Published on 10/17/2012 in the Prospect News Municipals Daily.
New Issue: Tallahassee, Fla., brings $49.17 million of downsized refunding bonds
By Sheri Kasprzak
New York, Oct. 17 - The City of Tallahassee, Fla., priced $49,165,000 of series 2012 capital refunding bonds, according to a pricing sheet. The deal was downsized from $50.16 million.
The bonds (Aa3//AA) were sold through Bank of America Merrill Lynch and Siebert Brandford Shank & Co. LLC.
The bonds are due 2013 to 2024 with 2% to 5% coupons.
Proceeds will be used to refund city's series 2004 bonds.
| Issuer: | City of Tallahassee, Fla.
|
| Issue: | Series 2012 capital refunding bonds
|
| Amount: | $49,165,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Siebert Brandford Shank & Co. LLC
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA
|
| Pricing date: | Oct. 17
|
| Settlement date: | Nov. 27
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.46 million | 2013 | Serial | 2% | 100
|
| $3,085,000 | 2014 | Serial | 3% | 104.64
|
| $3,175,000 | 2015 | Serial | 4% | 109.633
|
| $3,305,000 | 2016 | Serial | 4% | 112.333
|
| $3,975,000 | 2017 | Serial | 4% | 114.406
|
| $3.89 million | 2018 | Serial | 5% | 121.447
|
| $525,000 | 2019 | Serial | 4% | 116.414
|
| $4,515,000 | 2019 | Serial | 5% | 122.903
|
| $5,285,000 | 2020 | Serial | 5% | 123.971
|
| $5.55 million | 2021 | Serial | 5% | 124.114
|
| $5.83 million | 2022 | Serial | 5% | 124.759
|
| $3,695,000 | 2023 | Serial | 5% | 123.364
|
| $3,875,000 | 2024 | Serial | 5% | 122.574
|
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