By Sheri Kasprzak
New York, April 14 - The Convention Center Authority of the Metropolitan Government of Nashville and Davidson County, Tenn., sold $623.215 million in series 2010 revenue bonds on Wednesday, according to a pricing sheet.
The offering included $51.73 million in series 2010A-1 tourism tax revenue bonds, $152.395 million in series 2010A-2 Build America Bonds and $419.09 million in series 2010B Build America Bonds.
Goldman, Sachs & Co. was the senior manager. The co-managers were Morgan Keegan & Co. Inc., Morgan Stanley & Co. Inc., Bank of America Merrill Lynch, Fifth Third Securities Inc., Harveston Securities Inc., Mesirow Financial Inc. and Stephens Inc.
The 2010A-1 bonds are due 2015 to 2026 with coupons from 3.25% to 5%. The 2010A-2 bonds are due July 1, 2043 with a 7.431% coupon, priced at par. The 2010B bonds are due 2016 to 2025 with a term bond due 2043. The serial coupons range from 4.862% to 6.217%, all priced at par. The 2043 bonds have a 6.731%, priced at par.
Proceeds will be used to acquire land, design, construct, equip and open a convention center in Nashville.
The authority, based in Nashville, oversees the construction of a convention center in the City of Nashville.
| Issuer: | Convention Center Authority of the Metropolitan Government of Nashville and Davidson County, Tenn.
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $623.215 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), Morgan Keegan & Co. Inc., Morgan Stanley & Co. Inc., Bank of America Merrill Lynch, Fifth Third Securities Inc., Harveston Securities Inc., Mesirow Financial Inc. and Stephens Inc. (co-managers)
|
| Pricing date: | April 14
|
| Settlement date: | April 21
|
|
|
| Series 2010A-1
|
| Maturity | Type | Coupon | Price
|
| 2015 | Serial | 5% | 109.852
|
| 2016 | Serial | 3.25% | 99.22
|
| 2016 | Serial | 5% | 108.922
|
| 2017 | Serial | 3.5% | 98.867
|
| 2017 | Serial | 5% | 108.271
|
| 2018 | Serial | 3.75% | 99.021
|
| 2018 | Serial | 5% | 107.719
|
| 2019 | Serial | 5% | 106.988
|
| 2020 | Serial | 4% | 98.025
|
| 2021 | Serial | 5% | 105.615
|
| 2022 | Serial | 5% | 105.223
|
| 2023 | Serial | 4.25% | 97.43
|
| 2024 | Serial | 5% | 104.341
|
| 2025 | Serial | 4.5% | 98.372
|
| 2026 | Serial | 5% | 103.138
|
|
|
| Series 2010A-2
|
| Maturity | Type | Coupon | Price
|
| 2043 | Term | 7.431% | 100
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2016 | Serial | 4.862% | 100
|
| 2017 | Serial | 5.012% | 100
|
| 2018 | Serial | 5.417% | 100
|
| 2019 | Serial | 5.567% | 100
|
| 2020 | Serial | 5.692% | 100
|
| 2021 | Serial | 5.817% | 100
|
| 2022 | Serial | 5.967% | 100
|
| 2023 | Serial | 6.067% | 100
|
| 2024 | Serial | 6.167% | 100
|
| 2025 | Serial | 6.217% | 100
|
| 2043 | Term | 6.731% | 100
|
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