Published on 11/8/2013 in the Prospect News Municipals Daily.
New Issue: Huntsville, Ala., prices $106.52 million of general obligation warrants
By Sheri Kasprzak
New York, Nov. 8 - The City of Huntsville, Ala., sold $106. 52 million of series 2013 general obligation warrants, according to a pricing sheet.
The offering includes $77.05 million of series 2013C G.O. school warrants and $24.97 million of series 2013D warrants.
The 2013C warrants are due 2014 to 2033 with 2% to 5% coupons and 0.21% to 3.98% yields.
The 2013D warrants are due 201 to 2033 with 1.5% to 5% coupons and yields from 0.21% to 4.14%.
The bonds (Aaa/AAA/) were sold through Raymond James/Morgan Keegan.
Proceeds will be used to finance capital improvements within the city, as well as to design, construct, install, improve and equip school facilities in the city.
| Issuer: | City of Huntsville, Ala.
|
| Issue: | Series 2013 general obligation warrants
|
| Amount: | $106.52 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan (lead)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 26
|
|
|
| $77.05 million series 2013C G.O. school warrants
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $865,000 | 2014 | Serial | 2% | 101.663 | 0.21%
|
| $330,000 | 2015 | Serial | 3% | 105.034 | 0.38%
|
| $705,000 | 2016 | Serial | 3% | 107.082 | 0.56%
|
| $1,965,000 | 2017 | Serial | 4% | 112.15 | 0.85%
|
| $2,425,000 | 2018 | Serial | 5% | 118.349 | 1.16%
|
| $2,945,000 | 2019 | Serial | 5% | 119.412 | 1.56%
|
| $3.43 million | 2020 | Serial | 5% | 119.466 | 1.98%
|
| $3,605,000 | 2021 | Serial | 5% | 119.389 | 2.31%
|
| $3.79 million | 2022 | Serial | 5% | 119.72 | 2.52%
|
| $3,985,000 | 2023 | Serial | 5% | 119.915 | 2.7%
|
| $4.19 million | 2024 | Serial | 5% | 118.289 | 2.87%
|
| $4,405,000 | 2025 | Serial | 5% | 116.596 | 3.05%
|
| $4.63 million | 2026 | Serial | 5% | 114.932 | 3.23%
|
| $4,865,000 | 2027 | Serial | 5% | 113.567 | 3.38%
|
| $5,115,000 | 2028 | Serial | 5% | 112.221 | 3.53%
|
| $5.38 million | 2029 | Serial | 5% | 110.982 | 3.67%
|
| $5,655,000 | 2030 | Serial | 5% | 109.933 | 3.79%
|
| $5,945,000 | 2031 | Serial | 5% | 109.327 | 3.86%
|
| $6.25 million | 2032 | Serial | 5% | 108.639 | 3.94%
|
| $6.57 million | 2033 | Serial | 5% | 108.296 | 3.98%
|
|
|
| $24.97 million series 2013D warrants
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $890,000 | 2014 | Serial | 2% | 101.663 | 0.21%
|
| $905,000 | 2015 | Serial | 1.5% | 102.12 | 0.38%
|
| $902,000 | 2016 | Serial | 1.5% | 102.728 | 0.56%
|
| $935,000 | 2017 | Serial | 1.5% | 102.507 | 0.85%
|
| $950,000 | 2018 | Serial | 1.5% | 101.624 | 1.16%
|
| $965,000 | 2019 | Serial | 2% | 102.82 | 1.65%
|
| $1 million | 2020 | Serial | 5% | 119.466 | 1.98%
|
| $1,045,000 | 2021 | Serial | 4% | 112.181 | 2.31%
|
| $1,095,000 | 2022 | Serial | 5% | 119.72 | 2.52%
|
| $1,145,000 | 2023 | Serial | 4% | 111.256 | 2.7%
|
| $1,195,000 | 2024 | Serial | 5% | 118.289 | 2.87%
|
| $1.26 million | 2025 | Serial | 5% | 116. 596 | 3.05%
|
| $1,325,000 | 2026 | Serial | 5% | 114.932 | 3.23%
|
| $1.39 million | 2027 | Serial | 5% | 113.567 | 3.38%
|
| $1,465,000 | 2028 | Serial | 5% | 112.221 | 3.53%
|
| $1.54 million | 2029 | Serial | 5% | 110.982 | 3.67%
|
| $1,615,000 | 2030 | Serial | 5% | 109.933 | 3.79%
|
| $1.7 million | 2031 | Serial | 5% | 109.327 | 3.86%
|
| $1.78 million | 2032 | Serial | 4% | 98.689 | 4.1%
|
| $1.85 million | 2033 | Serial | 4% | 98.11 | 4.14%
|
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