Published on 3/16/2012 in the Prospect News Municipals Daily.
New Issue: Mesa, Ariz., sells $80.3 million taxable utility systems revenue refunding bonds
By Sheri Kasprzak
New York, March 16 - The City of Mesa, Ariz., priced $80,295,000 of series 2012 taxable utility systems revenue refunding bonds, according to a pricing sheet.
The bonds (Aa2/AA-/) were sold on a negotiated basis. Bank of America Merrill Lynch was the senior manager.
The bonds are due 2020 to 2027 with a term bond due in 2035. The serial coupons range from 3.269% to 4.569%, all priced at par. The 2035 bonds have a 5.048% coupon priced at par.
Proceeds will be used to advance refund the city's series 2002 utility systems refunding bonds.
| Issuer: | City of Mesa, Ariz.
|
| Issue: | Series 2012 taxable utility systems revenue refunding bonds
|
| Amount: | $80,295,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | March 15
|
| Settlement date: | April 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,225,000 | 2020 | Serial | 3.269% | 100
|
| $3.38 million | 2021 | Serial | 3.419% | 100
|
| $3.61 million | 2022 | Serial | 3.569% | 100
|
| $3.88 million | 2023 | Serial | 3.719% | 100
|
| $3.99 million | 2024 | Serial | 3.919% | 100
|
| $4,195,000 | 2025 | Serial | 4.119% | 100
|
| $4,425,000 | 2026 | Serial | 4.369% | 100
|
| $4,675,000 | 2027 | Serial | 4.569% | 100
|
| $48,915,000 | 2035 | Term | 5.048% | 100
|
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