Published on 10/3/2014 in the Prospect News Municipals Daily.
New Issue: Mesa, Ariz., brings $102.95 million of utility system revenue bonds
By Sheri Kasprzak
New York, Oct. 3 – The City of Mesa, Ariz., sold $102,945,000 of series 2014 utility systems revenue refunding bonds, according to a pricing sheet.
The bonds (Aa2/AA-/) were sold through BofA Merrill Lynch.
The bonds are due 2018 to 2030 with 2% to 3.25% coupons and yields from 1.03% to 3.52%.
Proceeds will be used to refund existing utility systems revenue bonds.
Issuer: | City of Mesa
|
Issue: | Series 2014 utility systems revenue refunding bonds
|
Amount: | $102,945,000
|
Type: | Negotiated
|
Underwriters: | BofA Merrill Lynch (lead), J.P. Morgan Securities LLC and RBC Capital Markets LLC (co-managers)
|
Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA-
|
Pricing date: | Sept. 25
|
Settlement date: | Oct. 15
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$475,000 | 2018 | Serial | 2% | 103.522 | 1.03%
|
$710,000 | 2019 | Serial | 2% | 103.187 | 1.30%
|
$725,000 | 2020 | Serial | 2.25% | 103.256 | 1.65%
|
$740,000 | 2021 | Serial | 3% | 106.703 | 1.93%
|
$760,000 | 2022 | Serial | 3% | 105.57 | 2.21%
|
$785,000 | 2023 | Serial | 3% | 104.608 | 2.41%
|
$805,000 | 2024 | Serial | 3% | 104.197 | 2.51%
|
$830,000 | 2025 | Serial | 3% | 102.201 | 2.74%
|
$1,555,000 | 2026 | Serial | 3% | 100 | 3.00%
|
$10 million | 2026 | Serial | 4% | 108.806 | 2.95%
|
$12.11 million | 2027 | Serial | 3% | 98.229 | 3.17%
|
$19.15 million | 2028 | Serial | 3% | 96.709 | 3.30%
|
$31,345,000 | 2029 | Serial | 3.25% | 97.93 | 3.43%
|
$22,955,000 | 2030 | Serial | 3.25% | 96.759 | 3.52%
|
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