Published on 6/16/2016 in the Prospect News Municipals Daily.
New Issue: Fayetteville, N.C., prices $114.4 million of public works revenue bonds
By Sheri Kasprzak
New York, June 16 – The City of Fayetteville, N.C., priced $114,405,000 of series 2016 Public Works Commission revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/AA) were sold competitively with Wells Fargo Bank, NA winning the bid.
The bonds are due 2017 to 2041 with 3% to 5% coupons and yields from 0.63% to 3.072%.
Proceeds will be used to acquire, construct and equip certain improvements to the city’s public works system.
| Issuer: | Fayetteville, N.C.
|
| Issue: | Series 2016 Public Works Commission revenue bonds
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| Amount: | $114,405,000
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| Type: | Competitive
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| Underwriter: | Wells Fargo Bank, NA
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| Ratings: | Moody’s: Aa2
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| S&P: AA
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| Fitch: AA
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| Pricing date: | June 8
|
| Settlement date: | June 29
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,775,000 | 2017 | Serial | 5% | 102.925 | 0.63%
|
| $1,205,000 | 2018 | Serial | 5% | 107.083 | 0.73%
|
| $4,745,000 | 2019 | Serial | 5% | 110.884 | 0.87%
|
| $6,545,000 | 2020 | Serial | 5% | 114.463 | 0.98%
|
| $6.77 million | 2021 | Serial | 5% | 117.662 | 1.11%
|
| $6,405,000 | 2022 | Serial | 5% | 120.592 | 1.23%
|
| $6,635,000 | 2023 | Serial | 5% | 123.284 | 1.34%
|
| $4,785,000 | 2024 | Serial | 5% | 125.686 | 1.45%
|
| $4.92 million | 2025 | Serial | 5% | 127.799 | 1.56%
|
| $5.06 million | 2026 | Serial | 5% | 129.522 | 1.68%
|
| $4,425,000 | 2027 | Serial | 3% | 108.936 | 1.98%
|
| $4,475,000 | 2028 | Serial | 3% | 107.114 | 2.18%
|
| $4,545,000 | 2029 | Serial | 3% | 105.681 | 2.34%
|
| $4,615,000 | 2030 | Serial | 3% | 105.592 | 2.35%
|
| $4,675,000 | 2031 | Serial | 3% | 105.194 | 2.40%
|
| $4,735,000 | 2032 | Serial | 3% | 104.27 | 2.50%
|
| $4.8 million | 2033 | Serial | 3% | 103.399 | 2.60%
|
| $4.87 million | 2034 | Serial | 3% | 102.536 | 2.70%
|
| $4,925,000 | 2035 | Serial | 3% | 101.682 | 2.80%
|
| $3,635,000 | 2036 | Serial | 3% | 100.835 | 2.90%
|
| $3.74 million | 2037 | Serial | 3% | 100 | 3.00%
|
| $3,855,000 | 2038 | Serial | 3% | 99.5 | 3.031%
|
| $3.97 million | 2039 | Serial | 3% | 99.25 | 3.046%
|
| $4,085,000 | 2040 | Serial | 3% | 99 | 3.06%
|
| $4.21 million | 2041 | Serial | 3% | 98.75 | 3.072%
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