Published on 6/17/2014 in the Prospect News Municipals Daily.
New Issue: Seattle, Wash., prices $135.58 million of drainage and wastewater bonds
By Sheri Kasprzak
New York, June 17 – The City of Seattle, Wash., priced $135.58 million of series 2014 drainage and wastewater improvement and refunding revenue bonds, said a pricing sheet. The deal was downsized from $146,125,000.
The bonds (Aa1/AA+/) were sold competitively. The issuer did not respond to requests for the winning bidder on Tuesday.
The bonds are due 2015 to 2039 with a term bond due in 2044. The serial coupons range from 3% to 5%. The 2044 bonds have a 4% coupon priced at par.
Proceeds will be used to finance drainage and wastewater projects, as well as to refund existing debt.
| Issuer: | City of Seattle, Wash.
|
| Issue: | Series 2014 drainage and wastewater improvement and refunding revenue bonds
|
| Amount: | $135.58 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Pricing date: | June 17
|
| Settlement date: | July 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.88 million | 2015 | Serial | 3% | 102.309
|
| $1.93 million | 2016 | Serial | 4% | 106.592
|
| $2 million | 2017 | Serial | 3% | 106.384
|
| $2.09 million | 2018 | Serial | 5% | 114.505
|
| $2,195,000 | 2019 | Serial | 5% | 116.428
|
| $5,845,000 | 2020 | Serial | 5% | 117.993
|
| $4.62 million | 2021 | Serial | 5% | 118.933
|
| $4.85 million | 2022 | Serial | 5% | 119.746
|
| $5.11 million | 2023 | Serial | 5% | 120.882
|
| $5,375,000 | 2024 | Serial | 5% | 121.817
|
| $5,655,000 | 2025 | Serial | 5% | 120.56
|
| $3,105,000 | 2026 | Serial | 5% | 119.318
|
| $3.23 million | 2027 | Serial | 5% | 118.374
|
| $3.36 million | 2028 | Serial | 5% | 117.531
|
| $3.5 million | 2029 | Serial | 4% | 106.946
|
| $3.64 million | 2030 | Serial | 4% | 106.252
|
| $3.79 million | 2031 | Serial | 4% | 105.477
|
| $3,945,000 | 2032 | Serial | 4% | 104.37
|
| $7.77 million | 2033 | Serial | 4% | 103.779
|
| $8,085,000 | 2034 | Serial | 4% | 103.36
|
| $4.45 million | 2035 | Serial | 4% | 102.942
|
| $4.63 million | 2036 | Serial | 4% | 102.61
|
| $4.82 million | 2037 | Serial | 4% | 102.279
|
| $5,015,000 | 2038 | Serial | 4% | 101.784
|
| $5.22 million | 2039 | Serial | 4% | 101.456
|
| $29.47 million | 2044 | Term | 4% | 100
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
