Published on 6/10/2015 in the Prospect News Municipals Daily.
New Issue: Atlanta offers $252 million of public improvement G.O. bonds
By Sheri Kasprzak
New York, June 10 – Atlanta sold $252 million of series 2015 general obligation public improvement bonds, said a pricing sheet.
The bonds (Aa2/AA/) were sold competitively with a consortium made up of BofA Merrill Lynch, Loop Capital Markets LLC and IFS Securities winning the bid, said city spokeswoman Jenna Garland. The true interest cost came in at 3.369681%.
The bonds are due 2017 to 2034 with 4.5% to 5% coupons and yields from 1% to 3.5%.
Proceeds will be used to finance improvements and repairs to city infrastructure.
| Issuer: | Atlanta
|
| Issue: | Series 2015 general obligation public improvement bonds
|
| Amount: | $252 million
|
| Type: | Competitive
|
| Underwriters: | BofA Merrill Lynch, Loop Capital Markets LLC and IFS Securities (winners)
|
| TIC: | 3.369681%
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Pricing date: | June 10
|
| Settlement date: | June 25
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $8.85 million | 2017 | Serial | 5% | 109.591 | 1.00%
|
| $9,305,000 | 2018 | Serial | 5% | 112.276 | 1.33%
|
| $9.78 million | 2019 | Serial | 5% | 114.263 | 1.65%
|
| $10,285,000 | 2020 | Serial | 5% | 116.042 | 1.88%
|
| $10,815,000 | 2021 | Serial | 5% | 117.233 | 2.12%
|
| $11,365,000 | 2022 | Serial | 5% | 118.876 | 2.23%
|
| $11,945,000 | 2023 | Serial | 5% | 120 | 2.369%
|
| $12,565,000 | 2024 | Serial | 4.875% | 119.939 | 2.49%
|
| $13,205,000 | 2025 | Serial | 4.875% | 118.829 | 2.61%
|
| $13,885,000 | 2026 | Serial | 4.875% | 117.64 | 2.74%
|
| $14,595,000 | 2027 | Serial | 5% | 117.401 | 2.88%
|
| $15,345,000 | 2028 | Serial | 4.5% | 112.592 | 2.96%
|
| $16.13 million | 2029 | Serial | 4.5% | 110.083 | 3.25%
|
| $16,955,000 | 2030 | Serial | 4.5% | 109.149 | 3.36%
|
| $17,825,000 | 2031 | Serial | 5% | 114.467 | 3.21%
|
| $18.74 million | 2032 | Serial | 5% | 114.03 | 3.26%
|
| $19.7 million | 2033 | Serial | 5% | 113.682 | 3.30%
|
| $20.71 million | 2034 | Serial | 4.75% | 109.966 | 3.50%
|
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