By Sheri Kasprzak
New York, June 12 - The City of Seattle, Wash., sold $179,325,000 of series 2013 municipal light and power improvement and refunding revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold competitively. The city did not respond to requests for the winning bidder Wednesday afternoon.
The bonds are due 2014 to 2033 with term bonds due in 2035, 2038 and 2043. The serial coupons range from 2% to 5% with 0.2% to 3.73% yields. The 2035 bonds have a 4% coupon priced at 98 to yield 4.139% and the 2038 bonds have a 4.125% priced at 98 to yield 4.256%. The 2043 bonds have a 4.5% coupon priced at 98.862 to yield 4.57%.
Proceeds will be used to finance capital improvements to the city's light system, as well as to refund existing municipal light and power revenue bonds.
| Issuer: | City of Seattle
|
| Issue: | Series 2013 municipal light and power improvement and refunding revenue bonds
|
| Amount: | $179,325,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | June 12
|
| Settlement date: | July 9
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2014 | Serial | 2% | 101.757 | 0.20%
|
| 2015 | Serial | 4% | 107.084 | 0.40%
|
| 2016 | Serial | 5% | 112.555 | 0.73%
|
| 2017 | Serial | 5% | 115.306 | 1.06%
|
| 2018 | Serial | 5% | 117.303 | 1.39%
|
| 2019 | Serial | 5% | 118.244 | 1.77%
|
| 2020 | Serial | 5% | 119.447 | 2.00%
|
| 2021 | Serial | 5% | 119.898 | 2.26%
|
| 2022 | Serial | 5% | 120.259 | 2.47%
|
| 2023 | Serial | 5% | 120.387 | 2.66%
|
| 2024 | Serial | 5% | 119.035 | 2.80%
|
| 2025 | Serial | 5% | 117.796 | 2.93%
|
| 2026 | Serial | 5% | 116.665 | 3.05%
|
| 2027 | Serial | 5% | 115.733 | 3.15%
|
| 2028 | Serial | 5% | 113.351 | 3.41%
|
| 2029 | Serial | 5% | 112.63 | 3.49%
|
| 2030 | Serial | 5% | 112.092 | 3.55%
|
| 2031 | Serial | 5% | 111.558 | 3.61%
|
| 2032 | Serial | 5% | 111.027 | 3.67%
|
| 2033 | Serial | 5% | 110.499 | 3.73%
|
| 2035 | Term | 4% | 98 | 4.139%
|
| 2038 | Term | 4.125% | 98 | 4.256%
|
| 2043 | Term | 4.5% | 98.862 | 4.57%
|
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