Published on 12/11/2015 in the Prospect News Municipals Daily.
New Issue: New Haven, Conn., hits market with $53.4 million G.O. refunding bonds
By Sheri Kasprzak
New York, Dec. 11 – The City of New Haven, Conn., priced $53.4 million of series 2015B general obligation bonds, according to a pricing sheet.
The bonds (A3/A-/A-) were sold through Piper Jaffray & Co. and Raymond James/Morgan Keegan.
The bonds are due 2016 to 2028 with 3% to 5% coupons and yields from 0.66% to 3.1%.
Proceeds will be used to refund the city’s series 2005A, 2007, 2008A, 2009A and 2011A G.O. bonds.
| Issuer: | New Haven, Conn.
|
| Issue: | Series 2015B general obligation refunding bonds
|
| Amount: | $53.4 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. and Raymond James/Morgan Keegan
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Fitch: A-
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 22
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.82 million | 2016 | Serial | 3% | 101.508 | 0.66%
|
| $685,000 | 2017 | Serial | 3% | 103.059 | 1.12%
|
| $1,905,000 | 2018 | Serial | 5% | 109.349 | 1.39%
|
| $4,665,000 | 2020 | Serial | 5% | 114.154 | 1.81%
|
| $6,815,000 | 2021 | Serial | 5% | 115.768 | 2.03%
|
| $4.44million | 2022 | Serial | 5% | 116.887 | 2.25%
|
| $2.23 million | 2023 | Serial | 5% | 117.528 | 2.47%
|
| $7,025,000 | 2024 | Serial | 5% | 118.56 | 2.59%
|
| $7.32million | 2025 | Serial | 5% | 119.416 | 2.70%
|
| $7,355,000 | 2026 | Serial | 5% | 118.39 | 2.81%
|
| $5,265,000 | 2027 | Serial | 5% | 117.65 | 2.89%
|
| $2,875,000 | 2028 | Serial | 3% | 98.957 | 3.10%
|
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