Published on 7/12/2012 in the Prospect News Municipals Daily.
New Issue: Irvine, Calif., sells $126.22 million limited obligation improvement bonds
By Sheri Kasprzak
New York, July 12 - The City of Irvine, Calif., priced $126.22 million of series 2012 limited obligation improvement bonds, according to a pricing sheet.
The bonds (/BBB+/) were sold through Piper Jaffray & Co. and Stone & Youngberg.
The bonds are due 2013 to 2029 with 2% to 5% coupons.
Proceeds will be used to refund existing improvement bonds.
| Issuer: | City of Irvine, Calif.
|
| Issue: | Series 2012 limited obligation improvement bonds
|
| Amount: | $126.22 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. and Stone & Youngberg
|
| Ratings: | Standard & Poor's: BBB+
|
| Pricing date: | July 12
|
| Settlement date: | July 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $8.45 million | 2013 | Serial | 2% | 101.48
|
| $4.53 million | 2014 | Serial | 2% | 101.718
|
| $4.53 million | 2014 | Serial | 3% | 103.789
|
| $4.64 million | 2015 | Serial | 2% | 101.845
|
| $4,635,000 | 2015 | Serial | 3% | 104.871
|
| $1.5 million | 2016 | Serial | 2% | 101.501
|
| $7.99 million | 2016 | Serial | 3% | 105.455
|
| $2.5 million | 2017 | Serial | 2% | 100.386
|
| $7.26 million | 2017 | Serial | 4% | 110.062
|
| $2,415,000 | 2018 | Serial | 2.5% | 101.245
|
| $7,675,000 | 2018 | Serial | 4% | 109.745
|
| $280,000 | 2019 | Serial | 3% | 102.446
|
| $10.16 million | 2019 | Serial | 4% | 108.888
|
| $5,425,000 | 2020 | Serial | 3% | 100.787
|
| $5,425,000 | 2020 | Serial | 4% | 107.965
|
| $5,615,000 | 2021 | Serial | 3.125% | 100.431
|
| $5.61 million | 2021 | Serial | 4% | 107.334
|
| $5.11 million | 2022 | Serial | 3.25% | 100.169
|
| $5.11 million | 2022 | Serial | 4% | 106.589
|
| $4.14 million | 2023 | Serial | 3.5% | 100.931
|
| $4,135,000 | 2023 | Serial | 5% | 114.779
|
| $2.55 million | 2024 | Serial | 3.625% | 100.207
|
| $2,545,000 | 2024 | Serial | 5% | 113.58
|
| $1.83 million | 2025 | Serial | 3.75% | 100
|
| $1.83 million | 2025 | Serial | 5% | 112.85
|
| $1,885,000 | 2026 | Serial | 3.875% | 99.727
|
| $1,885,000 | 2026 | Serial | 5% | 111.855
|
| $2.14 million | 2027 | Serial | 4% | 100.742
|
| $2.17 million | 2028 | Serial | 4% | 100.492
|
| $2.25 million | 2029 | Serial | 4% | 100.161
|
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