Published on 9/29/2011 in the Prospect News Municipals Daily.
New Issue: Mesa, Ariz., sells $77.84 million highway project advancement notes
By Sheri Kasprzak
New York, Sept. 29 - The City of Mesa, Ariz., priced $77.835 million of series 2011A highway project advancement notes, according to a pricing sheet.
The notes (Aa3/AA+/) were sold through J.P. Morgan Securities LLC with RBC Capital Markets LLC as the co-manager.
The notes are due 2017 to 2021 with 5% coupons and yields from 1.58% to 2.39%.
Proceeds will be used to construct the initial phase of State Route 24 in Mesa.
| Issuer: | City of Mesa, Ariz.
|
| Issue: | Series 2011A highway project advancement notes
|
| Amount: | $77.835 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), RBC Capital Markets LLC (co-manager)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA+
|
| Pricing date: | Sept. 22
|
| Settlement date: | Oct. 12
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $14.085 million | 2017 | Serial | 5% | 1.58%
|
| $14.8 million | 2018 | Serial | 5% | 1.81%
|
| $15.525 million | 2019 | Serial | 5% | 2.03%
|
| $16.3 million | 2020 | Serial | 5% | 2.23%
|
| $17.125 million | 2021 | Serial | 5% | 2.39%
|
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