Published on 9/21/2011 in the Prospect News Municipals Daily.
New Issue: Metro Government of Nashville and Davidson County, Tenn., sells $89.48 million of G.O.s
By Sheri Kasprzak
New York, Sept. 21 - The Metropolitan Government of Nashville and Davidson County in Tennessee sold $89.48 million of series 2011 general obligation refunding bonds, said an official statement.
The bonds (Aa1/AA/) were sold through J.P. Morgan Securities LLC. The co-managers were Jefferies & Co., Mesirow Financial Inc., Morgan Keegan & Co. Inc., Fifth Third Securities Inc., Loop Capital Markets LLC, Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Wiley Bros.-Aintree Capital LLC.
The bonds are due 2012 to 2023 with 2% to 5% coupons.
Proceeds will be used to refund the government's series 2001B, 2005A, 2005C, 2006B, 2007A and 2008 G.O. bonds.
| Issuer: | Metropolitan Government of Nashville and Davidson County, Tenn.
|
| Issue: | Series 2011 general obligation refunding bonds
|
| Amount: | $89.48 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Jefferies & Co., Mesirow Financial Inc., Morgan Keegan & Co. Inc., Fifth Third Securities Inc., Loop Capital Markets LLC, Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Wiley Bros.-Aintree Capital LLC (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 29
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $4.885 million | 2012 | Serial | 2% | 0.24%
|
| $3.76 million | 2013 | Serial | 3% | 0.40%
|
| $3.91 million | 2014 | Serial | 4% | 0.54%
|
| $100,000 | 2015 | Serial | 3% | 0.72%
|
| $4.01 million | 2015 | Serial | 5% | 0.72%
|
| $500,000 | 2016 | Serial | 3% | 1.10%
|
| $3.825 million | 2016 | Serial | 5% | 1.10%
|
| $500,000 | 2018 | Serial | 4% | 1.73%
|
| $9.645 million | 2018 | Serial | 5% | 1.73%
|
| $10.92 million | 2019 | Serial | 5% | 2.05%
|
| $11.475 million | 2020 | Serial | 5% | 2.29%
|
| $12.065 million | 2021 | Serial | 5% | 2.49%
|
| $650,000 | 2022 | Serial | 4% | 2.67%
|
| $18.4 million | 2022 | Serial | 5% | 2.67%
|
| $4.835 million | 2023 | Serial | 5% | 2.85%
|
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