Published on 10/23/2013 in the Prospect News Municipals Daily.
New Issue: Abilene, Texas, sells $57.96 million certificates of obligation
By Sheri Kasprzak
New York, Oct. 23 - The City of Abilene, Texas, sold $57.96 million of series 2013 combination tax and surplus revenue certificates of obligation, according to a pricing sheet.
The bonds (/AA+/AA+) were sold through lead managers Southwest Securities Inc. and Edward D. Jones & Co. LP.
The bonds are due 2015 to 2032 with term bonds due in 2035 and 2039. The serial coupons range from 3% to 5%. The 2035 bonds have a 5% coupon priced at 104.733, and the 2039 bonds have a 5% coupon priced at 103.471.
Proceeds will be used to make additions and improvements to the city's water and sewer systems.
| Issuer: | Abilene, Texas
|
| Issue: | Series 2013 combination tax and surplus revenue certificates of obligation
|
| Amount: | $57.96 million
|
| Type: | Negotiated
|
| Underwriters: | Southwest Securities Inc. and Edward D. Jones & Co. LP (lead), RBC Capital Markets LLC and BOSC Inc. (co-managers)
|
| Ratings: | Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Oct. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.38 million | 2015 | Serial | 3% | 103.346
|
| $1,425,000 | 2016 | Serial | 3% | 105.544
|
| $1,455,000 | 2017 | Serial | 3% | 106.908
|
| $1.52 million | 2018 | Serial | 4% | 111.697
|
| $1.59 million | 2019 | Serial | 5% | 117.001
|
| $1,665,000 | 2020 | Serial | 4% | 111.539
|
| $1.74 million | 2021 | Serial | 5% | 117.82
|
| $1.83 million | 2022 | Serial | 5% | 117.762
|
| $1,925,000 | 2023 | Serial | 5% | 116.152
|
| $2.02 million | 2024 | Serial | 5% | 114.333
|
| $2,125,000 | 2025 | Serial | 5% | 112.701
|
| $2,215,000 | 2026 | Serial | 3.5% | 98.915
|
| $2,295,000 | 2027 | Serial | 3.5% | 96.999
|
| $2,395,000 | 2028 | Serial | 5% | 109.222
|
| $2.52 million | 2029 | Serial | 5% | 108.262
|
| $2,645,000 | 2030 | Serial | 5% | 107.24
|
| $2,785,000 | 2031 | Serial | 5% | 106.805
|
| $2,925,000 | 2032 | Serial | 5% | 106.229
|
| $9.71 million | 2035 | Term | 5% | 104.733
|
| $11,785,000 | 2039 | Term | 5% | 103.471
|
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