Published on 2/5/2013 in the Prospect News Municipals Daily.
New Issue: Phoenix Civic Improvement, Ariz., sells $196.6 million airport revenue refunding bonds
By Sheri Kasprzak
New York, Feb. 5 - The Phoenix Civic Improvement Corp. of Arizona sold $196.6 million of series 2013 senior-lien airport revenue refunding bonds, according to a pricing sheet.
The bonds (Aa3) were sold through Barclays.
The bonds are due 2014 to 2032 with 3% to 5% coupons.
Proceeds will be used to refund existing airport revenue bonds.
| Issuer: | Phoenix Civic Improvement Corp.
|
| Issue: | Series 2013 senior-lien airport revenue refunding bonds
|
| Amount: | $196.6 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays
|
| Ratings: | Moody's: Aa3
|
| Pricing date: | Feb. 5
|
| Settlement date: | March 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6,615,000 | 2014 | Serial | 3% | 103.478
|
| $6,815,000 | 2015 | Serial | 4% | 107.659
|
| $7.09 million | 2016 | Serial | 5% | 113.177
|
| $7.44 million | 2017 | Serial | 5% | 116.14
|
| $7,815,000 | 2018 | Serial | 5% | 118.512
|
| $8,205,000 | 2019 | Serial | 5% | 119.699
|
| $8,615,000 | 2020 | Serial | 5% | 120.487
|
| $9.05 million | 2021 | Serial | 5% | 120.93
|
| $9.5 million | 2022 | Serial | 5% | 121.319
|
| $9.97 million | 2023 | Serial | 5% | 121.5
|
| $10,475,000 | 2024 | Serial | 5% | 120.096
|
| $10,995,000 | 2025 | Serial | 5% | 118.711
|
| $11.55 million | 2026 | Serial | 5% | 118.026
|
| $12,125,000 | 2027 | Serial | 5% | 117.345
|
| $12.73 million | 2028 | Serial | 5% | 116.67
|
| $13,365,000 | 2029 | Serial | 5% | 116.094
|
| $14,035,000 | 2030 | Serial | 5% | 115.617
|
| $14,735,000 | 2031 | Serial | 5% | 115.332
|
| $15,475,000 | 2032 | Serial | 5% | 115.048
|
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