Published on 3/23/2012 in the Prospect News Municipals Daily.
New Issue: Hartford, Conn., sells $123.78 million of G.O. bonds and G.O. BANs
By Sheri Kasprzak
New York, March 23 - The City of Hartford, Conn., priced $123.78 million of series 2012 general obligation bonds and G.O. bond anticipation notes, according to a term sheet.
The deal included $50 million of series 2012A G.O. bonds, $21.28 million of series 2012B G.O. refunding bonds and $52.5 million of series 2012 G.O. bond anticipation notes.
The 2012A bonds are due 2013 to 2032 with 2% to 5% coupons. The 2012B bonds are due 2012 to 2023 with coupons from 2% to 5% coupons.
The G.O. BANs are due April 11, 2013 and bear interest at 2% priced at 101.619.
The G.O.s and the BANs were sold through Piper Jaffray & Co. with CastleOak Securities LP, RBC Capital Markets LLC and William Blair & Co.
Proceeds will be used to finance public improvement projects and fund various school projects, as well as to refund existing G.O. debt.
| Issuer: | Hartford, Conn.
|
| Issue: | Series 2012 general obligation bonds and G.O. bond anticipation notes
|
| Amount: | $123.78 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead); CastleOak Securities LP, RBC Capital Markets LLC and William Blair & Co. (co-managers)
|
| Pricing date: | March 22
|
| Settlement date: | April 12
|
|
|
| $50 million series 2012A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.5 million | 2013 | Serial | 2% | 101.566
|
| $2.5 million | 2014 | Serial | 4% | 106.382
|
| $2.5 million | 2015 | Serial | 5% | 111.3
|
| $2.5 million | 2016 | Serial | 5% | 112.696
|
| $2.5 million | 2017 | Serial | 5% | 114.531
|
| $2.5 million | 2018 | Serial | 5% | 114.678
|
| $2.5 million | 2019 | Serial | 5% | 114.795
|
| $2.5 million | 2020 | Serial | 5% | 115.076
|
| $2.5 million | 2021 | Serial | 5% | 114.862
|
| $2.5 million | 2022 | Serial | 5% | 114.707
|
| $2.5 million | 2023 | Serial | 5% | 113.432
|
| $2.5 million | 2024 | Serial | 5% | 111.639
|
| $2.5 million | 2025 | Serial | 5% | 110.755
|
| $2.5 million | 2026 | Serial | 5% | 109.879
|
| $2.5 million | 2027 | Serial | 5% | 109.185
|
| $2.5 million | 2028 | Serial | 5% | 108.582
|
| $2.5 million | 2029 | Serial | 5% | 108.153
|
| $2.5 million | 2030 | Serial | 5% | 107.897
|
| $2.5 million | 2031 | Serial | 5% | 108.153
|
| $2.5 million | 2032 | Serial | 5% | 107.812
|
|
|
| $21.28 million series 2012B G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $560,000 | 2012 | Serial | 2% | 100.461
|
| $1,245,000 | 2013 | Serial | 2% | 101.701
|
| $3,025,000 | 2014 | Serial | 4% | 107.239
|
| $1,855,000 | 2015 | Serial | 5% | 112.105
|
| $100,000 | 2016 | Serial | 4% | 109.364
|
| $1,775,000 | 2016 | Serial | 5% | 113.453
|
| $1,895,000 | 2017 | Serial | 5% | 115.115
|
| $1,385,000 | 2018 | Serial | 2.125% | 98.409
|
| $500,000 | 2018 | Serial | 3% | 103.465
|
| $860,000 | 2019 | Serial | 2.5% | 98.622
|
| $1 million | 2019 | Serial | 5% | 114.993
|
| $1,845,000 | 2020 | Serial | 4% | 107.111
|
| $1,105,000 | 2021 | Serial | 3% | 98.563
|
| $725,000 | 2021 | Serial | 4% | 106.527
|
| $1.81 million | 2022 | Serial | 3.125% | 98.057
|
| $1,595,000 | 2023 | Serial | 5% | 112.462
|
|
|
| $52.5 million series 2012 G.O. bond anticipation notes
|
| Maturity | Type | Coupon | Price
|
| April 11, 2013 | Term | 2% | 101.619
|
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