Published on 2/10/2015 in the Prospect News Municipals Daily.
New Issue: Metro Government of Nashville and Davidson, Tenn., sells $163.71 million
By Sheri Kasprzak
New York, Feb. 10 – The Metropolitan Government of Nashville and Davidson County, Tenn., sold $163.71 million of series 2015 general obligation refunding bonds, said a pricing sheet. The deal was downsized from $227,905,000.
The deal included $59.73 million of series 2015A G.O. refunding bonds and $103.98 million of series 2015B taxable refunding bonds.
The 2015A bonds are due 2021 to 2026 with 5% coupons, and the 2015B bonds are due 2015 to 2029 with coupons from 0.3% to 3.493%, all priced at par.
Proceeds will be used to refund government’s series 2010A, 2010D, 2011 and 2012 G.O. refunding bonds and 2013A G.O. improvement bonds.
| Issuer: | Metropolitan Government of Nashville and Davidson County, Tenn.
|
| Issue: | Series 2015 general obligation refunding bonds
|
| Amount: | $163.71 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead), Loop Capital Markets LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 19
|
|
|
| $59.73 million series 2015A G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10,585,000 | 2021 | Serial | 5% | 121.04
|
| $11.13 million | 2022 | Serial | 5% | 122.214
|
| $11.7 million | 2023 | Serial | 5% | 123.264
|
| $12,305,000 | 2024 | Serial | 5% | 124.06
|
| $10,155,000 | 2025 | Serial | 5% | 124.879
|
| $3,855,000 | 2026 | Serial | 5% | 123.526
|
|
|
| $103.98 million series 2015B taxable refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.05 million | 2015 | Serial | 0.30% | 100
|
| $1,735,000 | 2016 | Serial | 0.75% | 100
|
| $1.75 million | 2017 | Serial | 0.956% | 100
|
| $14.23 million | 2018 | Serial | 1.435% | 100
|
| $14.45 million | 2019 | Serial | 1.864% | 100
|
| $13,235,000 | 2020 | Serial | 2.114% | 100
|
| $13,535,000 | 2021 | Serial | 2.412% | 100
|
| $13.85 million | 2022 | Serial | 2.562% | 100
|
| $6.84 million | 2025 | Serial | 2.993% | 100
|
| $7.04 million | 2026 | Serial | 3.143% | 100
|
| $7,255,000 | 2027 | Serial | 3.293% | 100
|
| $3.94 million | 2028 | Serial | 3.393% | 100
|
| $4.07 million | 2029 | Serial | 3.493% | 100
|
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