By Sheri Kasprzak
New York, May 11 - The City of Mesa, Ariz., released the particulars of its $67.3 million sale of series 2012 utility systems revenue bonds, according to a term sheet.
The bonds (Aa2/AA-/) were sold competitively. Morgan Stanley & Co. LLC won the bid at a true interest cost of 3.988375%, said Kevin Christopher, spokesman for the city.
The bonds are due July 1, 2036 and bear interest at 4% priced at 100.754.
Proceeds will be used to construct and acquire improvements to the city's utility systems.
| Issuer: | City of Mesa, Ariz.
|
| Issue: | Series 2012 utility systems revenue bonds
|
| Amount: | $67.3 million
|
| Maturity: | July 1, 2036
|
| Coupon: | 4%
|
| Price: | 100.754
|
| Type: | Competitive
|
| Underwriter: | Morgan Stanley & Co. LLC (winner)
|
| True interest cost: | 3.988375%
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | May 9
|
| Settlement date: | May 31
|
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