Published on 7/24/2015 in the Prospect News Municipals Daily.
New Issue: Huntsville, Ala., brings to market $92.81 million water revenue warrants
By Sheri Kasprzak
New York, July 24 – The City of Huntsville, Ala., priced $92.81 million of series 2015 water revenue warrants, according to a pricing sheet.
The warrants (Aa1/AAA/) were sold through PNC Capital Markets LLC.
The warrants are due 2016 to 2035 with 2% to 5% coupons and 0.45% to 3.22% yields.
Proceeds will be used to finance capital improvements to the city’s water system.
| Issuer: | City of Huntsville
|
| Issue: | Series 2015 water revenue warrants
|
| Amount: | $92.81 million
|
| Type: | Negotiated
|
| Underwriter: | PNC Capital Markets LLC
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AAA
|
| Pricing date: | July 24
|
| Settlement date: | Aug. 4
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.66 million | 2016 | Serial | 3% | 103.153 | 0.45%
|
| $3,175,000 | 2017 | Serial | 3% | 104.945 | 0.77%
|
| $3,155,000 | 2018 | Serial | 4% | 109.443 | 1.03%
|
| $3.3 million | 2019 | Serial | 4% | 111.412 | 1.23%
|
| $3.45 million | 2020 | Serial | 5% | 117.743 | 1.47%
|
| $3,575,000 | 2021 | Serial | 2% | 101.352 | 1.77%
|
| $3.7 million | 2022 | Serial | 5% | 119.607 | 2.07%
|
| $3.89 million | 2023 | Serial | 5% | 120.662 | 2.24%
|
| $4.09 million | 2024 | Serial | 5% | 121.524 | 2.39%
|
| $4.3 million | 2025 | Serial | 5% | 121.396 | 2.51%
|
| $4.52 million | 2026 | Serial | 5% | 119.961 | 2.66%
|
| $4,755,000 | 2027 | Serial | 5% | 119.015 | 2.76%
|
| $4,995,000 | 2028 | Serial | 5% | 118.171 | 2.85%
|
| $5,255,000 | 2029 | Serial | 5% | 117.52 | 2.92%
|
| $5,525,000 | 2030 | Serial | 5% | 116.873 | 2.99%
|
| $5.76 million | 2031 | Serial | 3.375% | 98.214 | 3.52%
|
| $5,975,000 | 2032 | Serial | 4% | 103.757 | 3.54%
|
| $6.25 million | 2033 | Serial | 5% | 115.501 | 3.14%
|
| $6.57 million | 2034 | Serial | 5% | 115.139 | 3.18%
|
| $6.91 million | 2035 | Serial | 5% | 114.777 | 3.22%
|
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