By Sheri Kasprzak
New York, Dec. 2 - The City and County of Honolulu sold $339.515 million of series 2010 general obligation bonds on Thursday, according to a pricing sheet. The deal was downsized from $459.785 million.
The sale included $151.685 million of series 2010A Build America Bonds and $187.83 million of series 2010B tax-exempt bonds. Another $120.27 million tranche of series 2010C tax-exempt bonds originally planned was scrapped Thursday.
The bonds (Aa1//AA+) were sold through Bank of America Merrill Lynch with Piper Jaffray & Co. as the co-manager.
The 2010A bonds are due 2015 to 2035 with 2.776% to 6.478% coupons, all priced at par. The 2010B bonds are due 2015 to 2035 with coupons from 3.875% to 5%.
Proceeds will be used to refund $125 million of the city and county's commercial paper and advanced refund its series 2003A, 2004A, 2005E and 2005F bonds.
| Issuer: | City and County of Honolulu
|
| Issue: | Series 2010 general obligation bonds
|
| Amount: | $339.515 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Piper Jaffray & Co. (co-manager)
|
| Ratings: | Moody's: Aa1
|
| Fitch: AA+
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 15
|
|
|
| $151.685 million series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2015 | Serial | 2.776% | 100
|
| 2016 | Serial | 3.224% | 100
|
| 2017 | Serial | 3.424% | 100
|
| 2018 | Serial | 3.85% | 100
|
| 2019 | Serial | 3.93% | 100
|
| 2020 | Serial | 4.2% | 100
|
| 2021 | Serial | 4.5% | 100
|
| 2022 | Serial | 4.75% | 100
|
| 2023 | Serial | 5% | 100
|
| 2024 | Serial | 5.25% | 100
|
| 2025 | Serial | 5.5% | 100
|
| 2026 | Serial | 5.318% | 100
|
| 2027 | Serial | 5.418% | 100
|
| 2028 | Serial | 5.518% | 100
|
| 2029 | Serial | 5.618% | 100
|
| 2030 | Serial | 5.668% | 100
|
| 2031 | Serial | 6.288% | 100
|
| 2032 | Serial | 6.338% | 100
|
| 2033 | Serial | 6.388% | 100
|
| 2034 | Serial | 6.438% | 100
|
| 2035 | Serial | 6.478% | 100
|
|
|
| $187.83 million series 2010B
|
| Maturity | Type | Coupon
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 4%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 3.875%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5%
|
| 2030 | Serial | 4.25%
|
| 2031 | Serial | 5%
|
| 2032 | Serial | 4.375%
|
| 2032 | Serial | 5%
|
| 2033 | Serial | 5%
|
| 2034 | Serial | 5%
|
| 2035 | Serial | 4.75%
|
© 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.
