Published on 5/23/2012 in the Prospect News Municipals Daily.
New Issue: Metro, Ore., brings $167.58 million of G.O. bonds
By Sheri Kasprzak
New York, May 23 - The Metro, Ore., came to market with $167,575,000 of series 2012 general obligation bonds, said a pricing sheet.
The deal included $140 million of series 2012A G.O. bonds and $27,575,000 of series 2012B G.O. refunding bonds.
The 2012A bonds are due 2013 to 2028 with 2% to 5% coupons. The 2012B bonds are due 2013 to 2015 with 3% to 5% coupons.
The bonds (Aaa/AAA/) were sold competitively. Calls to the issuer for the winning bidder were not immediately returned Wednesday.
Proceeds will be used to finance capital costs and refinance outstanding G.O. bonds, including the issuer's series 2002 G.O. bonds.
Metro is the metropolitan government of the Portland area.
| Issuer: | Metro, Ore.
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $167,575,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 23
|
| Settlement date: | June 6
|
|
|
| $140 million series 2012A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $8,915,000 | 2013 | Serial | 2% | 101.782
|
| $9,775,000 | 2014 | Serial | 4% | 107.176
|
| $11.02 million | 2015 | Serial | 5% | 113.321
|
| $4.23 million | 2016 | Serial | 5% | 117.089
|
| $5.05 million | 2017 | Serial | 5% | 120.163
|
| $5.86 million | 2018 | Serial | 5% | 122.663
|
| $6.73 million | 2019 | Serial | 5% | 124.481
|
| $7.66 million | 2020 | Serial | 5% | 125.906
|
| $8.65 million | 2021 | Serial | 5% | 126.820
|
| $9.71 million | 2022 | Serial | 5% | 127.866
|
| $10.84 million | 2023 | Serial | 5% | 126.413
|
| $12.05 million | 2024 | Serial | 5% | 125.183
|
| $13.33 million | 2025 | Serial | 5% | 123.967
|
| $14.7 million | 2026 | Serial | 4% | 111.776
|
| $5,525,000 | 2027 | Serial | 4.5% | 116.329
|
| $5,955,000 | 2028 | Serial | 3% | 99
|
|
|
| $27,575,000 series 2012B G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $8.89 million | 2013 | Serial | 3% | 102.767
|
| $9.15 million | 2014 | Serial | 4% | 107.217
|
| $9,535,000 | 2015 | Serial | 5% | 113.384
|
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