Published on 7/28/2015 in the Prospect News Municipals Daily.
New Issue: Fort Worth, Texas, offers up $127.82 million of general purpose bonds
By Sheri Kasprzak
New York, July 28 – The City of Fort Worth, Texas, priced $127.82 million of series 2015A general purpose and improvement refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold competitively with Citigroup Global Markets Inc. winning the bid at a 2.448720% true interest cost.
The bonds are due 2016 to 2035 with 3.25% to 5% coupons.
Proceeds will be used to refund the city’s series 2004, 2007 and 2007A general purpose bonds and its series 2007 combination tax and limited obligation certificates of obligation.
| Issuer: | City of Fort Worth
|
| Issue: | Series 2015A general purpose and improvement refunding bonds
|
| Amount: | $127.82 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| TIC: | 2.448720%
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Fitch: AA+
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $8.89 million | 2016 | Serial | 4% | 101.94
|
| $2.52 million | 2017 | Serial | 4% | 105.107
|
| $10,115,000 | 2018 | Serial | 4% | 107.654
|
| $10,105,000 | 2019 | Serial | 5% | 113.248
|
| $10.1 million | 2020 | Serial | 5% | 115.732
|
| $10,085,000 | 2021 | Serial | 5% | 117.463
|
| $10.08 million | 2022 | Serial | 5% | 118.498
|
| $10,895,000 | 2023 | Serial | 5% | 120.054
|
| $10,925,000 | 2024 | Serial | 5% | 121.106
|
| $10.96 million | 2025 | Serial | 5% | 121.992
|
| $10.99 million | 2026 | Serial | 5% | 120.669
|
| $10,005,000 | 2027 | Serial | 5% | 119.828
|
| $1.52 million | 2028 | Serial | 4% | 109.085
|
| $1.52 million | 2029 | Serial | 4% | 107.449
|
| $1.52 million | 2030 | Serial | 4% | 106.515
|
| $1.52 million | 2031 | Serial | 4% | 105.59
|
| $1.52 million | 2032 | Serial | 3.25% | 98.614
|
| $1.52 million | 2033 | Serial | 3.25% | 98.033
|
| $1,515,000 | 2034 | Serial | 3.375% | 99.115
|
| $1,515,000 | 2035 | Serial | 3.375% | 98.522
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
