Published on 8/22/2012 in the Prospect News Municipals Daily.
New Issue Fort Worth, Texas, sells $136.16 million refunding and improvement bonds
By Sheri Kasprzak
New York, Aug. 22 - The City of Fort Worth, Texas, priced $136,155,000 of series 2012 general obligation refunding and improvement bonds, according to a pricing sheet.
The bonds (Aa1//AA+) were sold through senior manager Loop Capital Markets LLC. The co-managers were Wells Fargo Securities LLC, RBC Capital Markets LLC, Baird & Co. and BOSC Inc.
The bonds are due 2013 to 2032 with 3% to 5% coupons.
Proceeds will be used to construct permanent street and storm sewer improvements, as well as to refund the city's series 2008 general purpose bonds and series 2008 combination revenue and tax certificates of obligation.
| Issuer: | City of Fort Worth
|
| Issue: | Series 2012 general obligation refunding and improvement bonds
|
| Amount: | $136,155,000
|
| Type: | Negotiated
|
| Underwriters: | Loop Capital Markets LLC (lead), Wells Fargo Securities LLC, RBC Capital Markets LLC, Baird & Co. and BOSC Inc. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Fitch: AA+
|
| Pricing date: | Aug. 22
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.25 million | 2013 | Serial | NRO | NRO
|
| $4,255,000 | 2014 | Serial | 3% | 103.8
|
| $4,255,000 | 2015 | Serial | 4% | 108.555
|
| $4,255,000 | 2016 | Serial | 5% | 114.855
|
| $4,255,000 | 2017 | Serial | 3% | 109.288
|
| $4,255,000 | 2018 | Serial | 5% | 120.162
|
| $6.37 million | 2019 | Serial | 4% | 115.342
|
| $3 million | 2019 | Serial | 5% | 121.455
|
| $9.37 million | 2020 | Serial | 5% | 122.481
|
| $9.37 million | 2021 | Serial | 5% | 123.086
|
| $7,865,000 | 2022 | Serial | 4% | 115.257
|
| $1.5 million | 2022 | Serial | 5% | 123.733
|
| $9,365,000 | 2023 | Serial | 5% | 122.492
|
| $9.36 million | 2024 | Serial | 5% | 121.735
|
| $9.36 million | 2025 | Serial | 5% | 121.078
|
| $9.36 million | 2026 | Serial | 5% | 120.518
|
| $9,355,000 | 2027 | Serial | 5% | 119.868
|
| $9,355,000 | 2028 | Serial | 5% | 119.223
|
| $4.25 million | 2029 | Serial | 3% | 98.085
|
| $4.25 million | 2030 | Serial | 5% | 118.035
|
| $4.25 million | 2031 | Serial | 5% | 117.491
|
| $4.25 million | 2032 | Serial | 5% | 116.951
|
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