By Sheri Kasprzak
New York, June 4 - The City of Indianapolis sold $69.795 million in series 2008C gas utility distribution system second-lien revenue refunding bonds, said an official statement released Wednesday.
The bonds (Aaa/AAA/), which priced May 29, are due from 2009 to 2021.
The bonds have coupons ranging from 4% to 5.25% with yields from 2.27% to 4.29%.
Morgan Stanley and City Securities were the lead managers for the negotiated offering.
Proceeds from the deal will be used to refund the city's outstanding series 2003A bonds as well as to pay costs related to a swap termination agreement.
| Issuer: | City of Indianapolis
|
| Issue: | Series 2008C gas utility distribution system second-lien revenue refunding bonds
|
| Amount: | $69.795 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley and City Securities
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 29
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 2.27%
|
| 2010 | Serial | 4% | 2.64%
|
| 2011 | Serial | 4% | 3.01%
|
| 2012 | Serial | 5% | 3.22%
|
| 2013 | Serial | 5% | 3.34%
|
| 2014 | Serial | 5% | 3.46%
|
| 2015 | Serial | 5% | 3.59%
|
| 2016 | Serial | 5% | 3.73%
|
| 2017 | Serial | 5% | 3.86%
|
| 2018 | Serial | 5% | 3.98%
|
| 2019 | Serial | 5.25% | 4.10%
|
| 2020 | Serial | 5.25% | 4.20%
|
| 2021 | Serial | 5.25% | 4.29%
|
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