Published on 8/13/2012 in the Prospect News Municipals Daily.
New Issue: Nashville and Davidson County, Tenn., prices $184.96 million bonds
By Sheri Kasprzak
New York, Aug. 13 - The Metropolitan Government of Nashville and Davidson County in Tennessee sold $184,955,000 of series 2012 refunding bonds, according to a pricing sheet.
The deal included $44.61 million of series 2012A district energy system revenue and tax refunding bonds and $140,345,000 of series 2012B taxable refunding bonds.
The 2012A bonds are due 2013 to 2033 with 2% to 5% coupons. The 2012B bonds are due 2013 to 2024 with 0.32% to 2.767% coupons, all priced at par.
The bonds (Aa1/AA/) were sold through Piper Jaffray & Co. with Jefferies & Co., Raymond James/Morgan Keegan, Duncan-Williams, Inc., Siebert Brandford Shank & Co., LLC and U.S. Bancorp as the co-managers.
Proceeds will be used to refund the outstanding series 2002A district energy system revenue bonds and to advance refund certain maturities of the outstanding series 2005A general obligation bonds, series 2005 G.O. refunding bonds and series 2007A G.O. refunding bonds.
| Issuer: | Metropolitan Government of Nashville and Davidson County, Tenn.
|
| Issue: | Series 2012 refunding bonds
|
| Amount: | $184,955,000
|
| Type: | Negotiated
|
| Underwriter: | Piper Jaffray & Co. (lead), Jefferies & Co., Raymond James/Morgan Keegan, Duncan-Williams, Inc., Siebert Brandford Shank & Co., LLC and U.S. Bancorp (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 15
|
|
|
| $44.61 million series 2012A district energy system revenue and tax refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.49 million | 2013 | Serial | 2% | 101.912
|
| $705,000 | 2014 | Serial | 2% | 103.364
|
| $820,000 | 2014 | Serial | 3% | 105.481
|
| $1,565,000 | 2015 | Serial | 3% | 107.651
|
| $1,615,000 | 2016 | Serial | 3% | 109.512
|
| $1,665,000 | 2017 | Serial | 4% | 115.717
|
| $1,735,000 | 2018 | Serial | 4% | 117.073
|
| $1,795,000 | 2019 | Serial | 4% | 117.726
|
| $1.88 million | 2020 | Serial | 5% | 125.468
|
| $1.97 million | 2021 | Serial | 5% | 126.342
|
| $2.06 million | 2022 | Serial | 4% | 118.453
|
| $1,745,000 | 2023 | Serial | 5% | 126.122
|
| $2,245,000 | 2024 | Serial | 5% | 124.984
|
| $2,355,000 | 2025 | Serial | 5% | 124.063
|
| $3,315,000 | 2026 | Serial | 4% | 111.731
|
| $2,595,000 | 2027 | Serial | 4% | 110.515
|
| $2.69 million | 2028 | Serial | 4% | 109.315
|
| $2.8 million | 2029 | Serial | 4% | 108.22
|
| $2.91 million | 2030 | Serial | 4% | 107.139
|
| $3,025,000 | 2031 | Serial | 4% | 106.158
|
| $315,000 | 2032 | Serial | 5% | 119.28
|
| $3,315,000 | 2033 | Serial | 5% | 118.698
|
|
|
| $140,345,000 series 2012B taxable refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.22 million | 2013 | Serial | 0.32% | 100
|
| $1,935,000 | 2014 | Serial | 0.515% | 100
|
| $1,945,000 | 2015 | Serial | 0.69% | 100
|
| $19.65 million | 2016 | Serial | 1.007% | 100
|
| $18,355,000 | 2017 | Serial | 1.207% | 100
|
| $16,495,000 | 2018 | Serial | 1.562% | 100
|
| $7,855,000 | 2019 | Serial | 1.862% | 100
|
| $6,585,000 | 2020 | Serial | 2.117% | 100
|
| $6.73 million | 2021 | Serial | 2.317% | 100
|
| $6,895,000 | 2022 | Serial | 2.467% | 100
|
| $21,255,000 | 2023 | Serial | 2.617% | 100
|
| $29,425,000 | 2024 | Serial | 2.767% | 100
|
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