By Aaron Hochman-Zimmerman
New York, Feb. 6 - The city of Milwaukee in Wisconsin released the terms of its $203.81 million series 2009-N1 general obligation promissory notes (Aa2//AA+), which priced Wednesday.
The $93.18 million of 2009-N1 bonds carry maturities from 2010 to 2019.
The $110.63 million of 2009-B2 bonds carry maturities from 2020 to 2024.
Yields ranged from 0.60% to 4.43%.
Morgan Stanley acted as the underwriter for the negotiated issue.
Proceeds will be used to refinance outstanding commercial paper and make improvements to the city's public infrastructure.
Issuer: City of Milwaukee
Issue: General obligation promissory notes
| Amount: | $203.81 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley
|
| Pricing date: | Feb. 4
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA+
|
|
|
| Issue: 2009-N1 bonds
|
| Amount: $93.18 million
|
| Maturity | Amount | Coupon | Yield | Price
|
| Feb. 15, 2010 | $29.585 million | 2.5% | 0.60% | 101.865
|
| Feb. 15, 2011 | $11.950 million | 3.0% | 1.38% | 103.162
|
| Feb. 15, 2012 | $7.505 million | 3.0% | 1.60% | 104.066
|
| Feb. 15, 2013 | $7.135 million | 3.0% | 1.80% | 104.595
|
| Feb. 15, 2014 | $6.865 million | 5.0% | 2.12% | 113.558
|
| Feb. 15, 2015 | $6.740 million | 3.0% | 2.31% | 103.836
|
| Feb. 15, 2016 | $5.850 million | 5.0% | 2.55% | 115.587
|
| Feb. 15, 2017 | $5.850 million | 4.0% | 2.79% | 108.608
|
| Feb. 15, 2018 | $5.850 million | 4.0% | 3.03% | 107.580
|
| Feb. 15, 2019 | $5.850 million | 5.0% | 3.29% | 114.453
|
|
|
| Issue: 2009-B2 bonds
|
| Amount: $110.63 million
|
| Maturity | Amount | Coupon | Yield | Price
|
| Feb. 15, 2020 | $3.630 million | 5.0% | 3.57% | 111.923
|
| Feb. 15, 2021 | $3.630 million | 5.0% | 3.87% | 109.285
|
| Feb. 15, 2022 | $2.930 million | 4.0% | 4.07% | 99.298
|
| Feb. 15, 2023 | $3.630 million | 5.0% | 4.25% | 106.050
|
| Feb. 15, 2024 | $3.630 million | 5.0% | 4.43% | 104.559
|
|
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