By Sheri Kasprzak
New York, Aug. 10 - The Phoenix Civic Improvement Corp. of Arizona sold Tuesday $714.28 million in series 2010 junior-lien revenue bonds (A1/A+/), said a pricing sheet.
The offering was comprised of $660.855 million in series 2010A bonds, $21.345 million in series 2010B taxable bonds and $32.08 million in series 2010C junior-lien refunding bonds.
The 2010A bonds are due 2013 to 2034 with a term bond due 2040. Coupons range from 2% to 5.25%. The 2040 bonds have a 5% coupon priced at par.
The 2010B bonds are due 2040 and have a 6.6% coupon priced at par.
The 2010C bonds are due 2023 to 2025 with 5% coupons.
Barclays Capital Inc. was the senior manager.
Proceeds from the sale will be used to construct a rail link at Sky Harbor International Airport.
The authority manages the state's debt issuance.
| Issuer: | Phoenix Civic Improvement Corp.
|
| Issue: | Series 2010 junior-lien revenue bonds
|
| Amount: | $714.28 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc. (lead)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Aug. 10
|
| Settlement date: | Sept. 1
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 2% | 101.632
|
| 2013 | Serial | 3% | 104.399
|
| 2013 | Serial | 4% | 107.167
|
| 2014 | Serial | 3% | 104.955
|
| 2014 | Serial | 5% | 112.352
|
| 2015 | Serial | 4% | 108.351
|
| 2015 | Serial | 5% | 112.916
|
| 2016 | Serial | 4% | 107.473
|
| 2016 | Serial | 5% | 112.851
|
| 2017 | Serial | 4% | 106.771
|
| 2017 | Serial | 5% | 112.929
|
| 2018 | Serial | 3% | 99.375
|
| 2018 | Serial | 5% | 113.194
|
| 2019 | Serial | 4% | 105.322
|
| 2019 | Serial | 5% | 112.929
|
| 2020 | Serial | 3.5% | 100.079
|
| 2020 | Serial | 5% | 112.472
|
| 2021 | Serial | 4% | 102.866
|
| 2021 | Serial | 5% | 111.065
|
| 2022 | Serial | 5% | 109.764
|
| 2023 | Serial | 5% | 108.567
|
| 2024 | Serial | 5% | 107.721
|
| 2025 | Serial | 4.125% | 99.501
|
| 2025 | Serial | 5% | 106.633
|
| 2026 | Serial | 5% | 105.641
|
| 2027 | Serial | 5% | 104.823
|
| 2028 | Serial | 5% | 104.254
|
| 2029 | Serial | 5% | 103.690
|
| 2030 | Serial | 4.5% | 98.064
|
| 2030 | Serial | 5% | 102.730
|
| 2031 | Serial | 5% | 102.097
|
| 2033 | Serial | 5.25% | 104.524
|
| 2034 | Serial | 5% | 100
|
| 2040 | Term | 5% | 100
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2040 | Term | 6.6% | 100
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| 2023 | Serial | 5% | 108.567
|
| 2024 | Serial | 5% | 107.721
|
| 2025 | Serial | 5% | 106.633
|
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