Published on 3/27/2013 in the Prospect News Municipals Daily.
New Issue: Oklahoma City Economic Development prices $139.45 million tax apportionment bonds
By Sheri Kasprzak
New York, March 27 - The Oklahoma City Economic Development Trust sold $139.45 million of series 2013 tax apportionment bonds, according to a pricing sheet.
The deal includes $116.46 million of series 2013A taxable bonds and $22.99 million of series 2013B tax-exempt bonds.
The bonds (Aa2) were sold through BofA Merrill Lynch.
The 2013A bonds are due 2014 to 2029 with a term bond due in 2032. The serial coupons range from 0.40% to 4.097%, all priced at par. The 2032 bonds have a 4.297% coupon priced at par.
The 2013B bonds are due 2032 to 2034 with 5% coupons and yields from 3.26% to 3.35%.
Proceeds will be used to refund $95 million of privately placed series 2009 tax anticipation notes and finance public improvements for the city.
| Issuer: | Oklahoma City Economic Development Trust
|
| Issue: | Series 2013 tax apportionment bonds
|
| Amount: | $139.45 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch (lead)
|
| Ratings: | Moody's: Aa2
|
| Pricing date: | March 26
|
| Settlement date: | April 17
|
|
|
| $116.46 million series 2013A taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.2 million | 2014 | Serial | 0.40% | 100
|
| $5,225,000 | 2015 | Serial | 0.65% | 100
|
| $5.27 million | 2016 | Serial | 0.975% | 100
|
| $5.33 million | 2017 | Serial | 1.376% | 100
|
| $5,415,000 | 2018 | Serial | 1.626% | 100
|
| $5,515,000 | 2019 | Serial | 2.005% | 100
|
| $5.63 million | 2020 | Serial | 2.205% | 100
|
| $5.77 million | 2021 | Serial | 2.634% | 100
|
| $5,935,000 | 2022 | Serial | 2.904% | 100
|
| $6,115,000 | 2023 | Serial | 3.004% | 100
|
| $6,305,000 | 2024 | Serial | 3.204% | 100
|
| $6.52 million | 2025 | Serial | 3.404% | 100
|
| $6,755,000 | 2026 | Serial | 3.604% | 100
|
| $7.01 million | 2027 | Serial | 3.804% | 100
|
| $7.29 million | 2028 | Serial | 3.997% | 100
|
| $7.59 million | 2029 | Serial | 4.097% | 100
|
| $19,585,000 | 2032 | Term | 4.297% | 100
|
|
|
| $22.99 million series 2013B tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $4,425,000 | 2032 | Serial | 5% | 3.26%
|
| $9.05 million | 2033 | Serial | 5% | 3.30%
|
| $9,515,000 | 2034 | Serial | 5% | 3.35%
|
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