By Sheri Kasprzak
New York, Aug. 24 - The City of Houston revealed the particulars of its recent $166.66 million sale of series 2011E combined utility system revenue refunding bonds, according to a pricing sheet.
The bonds (/AA/AA-) were sold through senior manager Wells Fargo Securities LLC with Morgan Keegan & Co. Inc., Ramirez & Co. Inc., Fidelity Capital Markets LLC, Loop Capital Markets LLC and Jefferies & Co. as the co-managers.
The bonds are due 2013 to 2021 with 5% coupons across the board.
Proceeds will be used to refund the city's series 2001A water and sewer junior-lien revenue refunding bonds.
| Issuer: | City of Houston
|
| Issue: | Series 2011E first-lien combined utility system revenue refunding bonds
|
| Amount: | $166.66 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), Morgan Keegan & Co. Inc., Ramirez & Co. Inc., Fidelity Capital Markets LLC, Loop Capital Markets LLC and Jefferies & Co. (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | Aug. 23
|
| Settlement date: | Sept. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $25.88 million | 2013 | Serial | 5% | 109.524
|
| $36.465 million | 2014 | Serial | 5% | 113.291
|
| $38.22 million | 2015 | Serial | 5% | 116.498
|
| $32.57 million | 2016 | Serial | 5% | 118.468
|
| $18.32 million | 2017 | Serial | 5% | 119.971
|
| $3.52 million | 2018 | Serial | 5% | 120.653
|
| $3.7 million | 2019 | Serial | 5% | 120.904
|
| $3.895 million | 2020 | Serial | 5% | 120.837
|
| $4.09 million | 2021 | Serial | 5% | 121.052
|
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