By Sheri Kasprzak
New York, July 15 - Citigroup Global Markets Inc. was the winning bidder for Thursday's $70.005 million sale of series 2011 capital improvement general obligation bonds by City of Alexandria, Va., said Laura Triggs, the city's chief financial officer in an interview Friday.
The bonds (Aaa/AAA) are due 2012 to 2031 with 2% to 5% coupons. The true interest cost came in at 3.18%, Triggs said.
Proceeds will be used to finance capital improvement projects, including public school projects, city parks and buildings, transportation improvements, capital contributions to the Washington Area Transit Authority, infrastructure improvements and maintenance, as well as upgrades to traffic control and information technology.
| Issuer: | City of Alexandria, Va.
|
| Issue: | Series 2011 capital improvement general obligation bonds
|
| Amount: | $70.005 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| TIC: | 3.18%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | July 14
|
| Settlement date: | July 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1 million | 2012 | Serial | 2% | 101.683
|
| $2 million | 2013 | Serial | 4% | 107.035
|
| $3 million | 2014 | Serial | 4% | 109.817
|
| $3.765 million | 2015 | Serial | 5% | 115.929
|
| $3.765 million | 2016 | Serial | 5% | 118.311
|
| $3.765 million | 2017 | Serial | 5% | 120.021
|
| $3.765 million | 2018 | Serial | 5% | 120.042
|
| $3.765 million | 2019 | Serial | 2.125% | 99.454
|
| $3.765 million | 2020 | Serial | 2.25% | 98.796
|
| $3.76 million | 2021 | Serial | 4% | 112.125
|
| $3.76 million | 2022 | Serial | 5% | 120.75
|
| $3.76 million | 2023 | Serial | 3% | 98.513
|
| $3.76 million | 2024 | Serial | 3.25% | 98.954
|
| $3.76 million | 2025 | Serial | 3.25% | 97.797
|
| $3.76 million | 2026 | Serial | 4% | 103.153
|
| $3.76 million | 2027 | Serial | 4% | 102.396
|
| $3.76 million | 2028 | Serial | 4% | 101.644
|
| $3.76 million | 2029 | Serial | 4% | 100.9
|
| $3.76 million | 2030 | Serial | 4% | 100
|
| $3.76 million | 2031 | Serial | 4% | 98.913
|
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