New Issue: Mesa, Ariz., prices $121.73 million in BAB, G.O. bonds

By Aaron Hochman-Zimmerman

New York, May 7 - Mesa, Ariz., priced $121.73 million of series 2009 bonds in two tranches on Thursday, deputy city manager Bryan Raines said.

The $59.9 million of taxable Build America Bonds were sold competitively to Robert W. Baird & Co. Inc. at a winning true interest cost of 6.345738%. Nine bidders participated in the auction for the bonds, which carry maturities from 2023 to 2033.

The $61.83 million tax-exempt general obligation bonds were sold to Merrill Lynch & Co. at a 4.4% TIC. Six bidders participated in the auction for the bonds, which carry maturities from 2010 to 2029.

Proceeds will be used for capital expenses.

Issuer:	Mesa, Ariz.
Issue:	Series 2009 bonds
Total amount:	$121.73 million
Type:	Competitive
Pricing date:	May 6
Build America Bonds
Amount:	$59.9 million
Issue:	Build America Bonds
Maturities:	2023 to 2033
True interest cost:	6.345738%
Underwriter:	Robert W. Baird & Co. Inc.
G.O. bonds
Amount:	$61.83 million
Issue:	General obligation bonds
Maturities:	2010 to 2029
True interest cost:	4.4%
Underwriter:	Merrill Lynch & Co.
Build America Bonds
Maturity	Coupon	Yield	Price
July 1, 2023	5.875%	5.60%	102.092
July 1, 2024	6.000%	5.70%	102.272
July 1, 2025	6.000%	5.80%	101.505
July 1, 2026	6.000%	5.90%	100.745
July 1, 2027	6.250%	6.00%	101.865
July 1, 2028	6.375%	6.10%	101.111
July 1, 2029	6.375%	6.20%	101.291
July 1, 2030	6.375%	6.25%	100.917
July 1, 2031	6.375%	6.27%	100.769
July 1, 2032	6.375%	6.30%	100.546
July 1, 2033	6.375%	6.30%	100.546

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