Published on 8/14/2013 in the Prospect News Municipals Daily.
New Issue: Nashville and Davidson County Sports, Tenn., prices $40.09 million debt
By Sheri Kasprzak
New York, Aug. 14 - The Sports Authority of the Metropolitan Government of Nashville and Davidson County, Tenn., sold $40,085,000 of series 2013 public improvement bonds, according to a pricing sheet. The deal was downsized from $60,495,000.
The deal included $14.16 million of series 2013A taxable public facility improvement revenue bonds and $25,925,000 of series 2013B taxable public improvement revenue refunding bonds.
The 2013A bonds are due 2014 to 2026 with a term bond due in 2033. The serial coupons range from 0.793% to 4.534% all priced at par. The 2033 bonds have a 5.15% coupon priced at par.
The 2013B bonds are due 2014 to 2019 with a term bond due in 2024. The serial coupons range from 0.793% to 2.973% all priced at par. The 2024 bonds have a 4.05% coupon priced at par.
The bonds (Aa2/AA-/) were sold through Piper Jaffray & Co.
Proceeds will be used to construct, equip, renovate and improve recreational facilities, including an ice skating and hockey rink.
| Issuer: | Sports Authority of the Metropolitan Government of Nashville and Davidson County
|
| Issue: | Series 2013 public improvement bonds
|
| Amount: | $40,085,000
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead), Raymond James/Morgan Keegan and Loop Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 20
|
|
|
| $14.16 million series 2013A taxable public facility improvement revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $515,000 | 2014 | Serial | 0.793% | 100
|
| $520,000 | 2015 | Serial | 1.052% | 100
|
| $530,000 | 2016 | Serial | 1.464% | 100
|
| $535,000 | 2017 | Serial | 1.955% | 100
|
| $550,000 | 2018 | Serial | 2.455% | 100
|
| $565,000 | 2019 | Serial | 2.973% | 100
|
| $580,000 | 2020 | Serial | 3.273% | 100
|
| $600,000 | 2021 | Serial | 3.584% | 100
|
| $625,000 | 2022 | Serial | 3.784% | 100
|
| $650,000 | 2023 | Serial | 3.984% | 100
|
| $675,000 | 2024 | Serial | 4.184% | 100
|
| $705,000 | 2025 | Serial | 4.384% | 100
|
| $740,000 | 2026 | Serial | 4.534% | 100
|
| $6.37 million | 2033 | Term | 5.15% | 100
|
|
|
| $25,925,000 series 2013B taxable public improvement revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $365,000 | 2014 | Serial | 0.793% | 100
|
| $365,000 | 2015 | Serial | 1.052% | 100
|
| $3.25 million | 2016 | Serial | 1.464% | 100
|
| $3,305,000 | 2017 | Serial | 1.955% | 100
|
| $3.37 million | 2018 | Serial | 2.455% | 100
|
| $3.46 million | 2019 | Serial | 2.973% | 100
|
| $11.81 million | 2024 | Term | 4.05% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
