By Cristal Cody
Springdale, Ark., July 9 - Alexandria, Va., priced $63 million general obligation bonds (Aaa/AAA/) in competitive sales on Wednesday, a source told Prospect News.
The $58 million series 2008A tax-exempt bonds priced with a 3.994% true interest cost from winning bidder Robert W. Baird & Co.
The bonds priced with 3.375% to 4.375% coupons to yield 2.21% to 4.45%.
The bonds have serial maturities from 2009 through 2028.
The $5 million series 2008B taxable bonds priced with a 5.359% true interest cost from winning bidder Stifel Nicolaus & Co.
The bonds priced with 4.5% to 5.6% coupons to yield 3.25% to 5.6%.
The bonds have serial maturities from 2009 through 2018 and term maturities in 2023 and 2028.
Proceeds will be used to finance capital improvement projects and public housing in the city.
| Issuer: | Alexandria, Va.
|
| Issue: | General obligation bonds
|
| Total amount: | $63 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | July 9
|
| Settlement date: | July 23
|
|
|
| Series 2008A
|
| Issue: | Tax-exempt bonds
|
| Amount: | $58 million
|
| True interest cost: | 3.994%
|
| Coupons: | 3.375%-4.375%
|
| Yields: | 2.21%-4.45%
|
| Maturities: | 2009-2028
|
| Underwriter: | Robert W. Baird & Co.
|
|
|
| Series 2008B
|
| Issue: | Taxable bonds
|
| Amount: | $5 million
|
| True interest cost: | 5.359%
|
| Coupons: | 4.5%-5.6%
|
| Yields: | 3.25%-5.6%
|
| Maturities: | 2009-2018 serials; terms due 2023 and 2028
|
| Underwriter: | Stifel Nicolaus & Co.
|
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