Published on 7/9/2013 in the Prospect News Municipals Daily.
New Issue: Indianapolis prices $54.47 million gas utility revenue refunding bonds
By Sheri Kasprzak
New York, July 9 - The City of Indianapolis sold $54,465,000 of series 2013A gas utility distribution system second lien revenue refunding bonds, according to a pricing sheet.
The bonds (A2/AA-/) were sold through senior manager J.P. Morgan Securities LLC.
The bonds are due 2027 to 2030 with 4.125% to 5.25% coupons and 4.35% to 4.7% yields.
Proceeds will be used to refund the city's series 2008A gas utility distribution system revenue bonds.
| Issuer: | City of Indianapolis
|
| Issue: | Series 2013A gas utility distribution system second lien revenue refunding bonds
|
| Amount: | $54,465,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), City Securities Corp., Morgan Stanley & Co. LLC and PNC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: AA-
|
| Pricing date: | July 2
|
| Settlement date: | July 16
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1,715,000 | 2027 | Serial | 4.125% | 4.35%
|
| $20,995,000 | 2028 | Serial | 5.25% | 4.53%
|
| $22,245,000 | 2029 | Serial | 5.25% | 4.64%
|
| $9.51 million | 2030 | Serial | 4.5% | 4.7%
|
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