New Issue: Memphis, Tenn., prices $71 million of electric system revenue bonds

By Sheri Kasprzak

New York, May 21 - The City of Memphis, Tenn., sold $71 million of series 2014 electric system revenue bonds, said a pricing sheet.

The bonds (Aa2/AA+/) were sold through Raymond James/Morgan Keegan.

The bonds are due 2015 to 2034 with 2% to 5% coupons.

Proceeds will be used to finance the expansion, improvement and equipment of the city's electric system.

Issuer:	City of Memphis
Issue:	Series 2014 electric system bonds
Amount:	$71 million
Type:	Negotiated
Underwriters:	Raymond James/Morgan Keegan (lead), Duncan-Williams Inc., Loop Capital Markets LLC and SunTrust Robinson Humphrey (co-managers)
Ratings:	Moody's: Aa2
	Standard & Poor's: AA+
Pricing date:	May 21
Settlement date:	June 3
Amount	Maturity	Type	Coupon	Price
$2,425,000	2015	Serial	2%	102.563
$2.47 million	2016	Serial	2%	103.916
$2.52 million	2017	Serial	4%	111.152
$2.62 million	2018	Serial	4%	112.823
$2,725,000	2019	Serial	3%	108.102
$2.81 million	2020	Serial	4%	113.953
$2.92 million	2021	Serial	4%	113.706
$3.04 million	2022	Serial	4%	113.627
$3.16 million	2023	Serial	5%	122.147
$3,315,000	2024	Serial	5%	123.159
$3,485,000	2025	Serial	5%	121.508
$3,655,000	2026	Serial	5%	120.491
$3.84 million	2027	Serial	4%	109.796
$3,995,000	2028	Serial	4%	108.945
$4,155,000	2029	Serial	4%	108.103
$4.32 million	2030	Serial	5%	117.891
$4,535,000	2031	Serial	5%	117.203
$4.76 million	2032	Serial	5%	116.52
$5 million	2033	Serial	5%	115.841
$5.25 million	2034	Serial	5%	115.263

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