New Issue: Seattle offers up $197.31 million of general obligation bonds

By Sheri Kasprzak

New York, May 11 – The City of Seattle priced $197.31 million of series 2015 general obligation refunding and improvement bonds, according to a pricing sheet.

The deal included $169,135,000 of series 2015 bonds (Aa1/AAA/AA+) and $28,175,000 of series 2015B taxable bonds (Aaa/AAA/AAA).

The 2015 bonds are due 2016 to 2040 with a term bond due in 2044. The serial coupons range from 4% to 5% with 0.45% to 3.78% yields. The 2044 bonds have a 4% coupon priced at 101.237 to yield 3.85%.

The 2015B bonds are due 2016 to 2031 with a 2035 term bond. The serial coupons range from 0.28% to 3.78%, all priced at par. The 2035 bond has a 3.96% coupon priced at par.

The bonds were sold competitively.

Proceeds will be used to finance city capital improvements and refund existing G.O. debt.

Issuer:	City of Seattle
Issue:	Series 2015 general obligation refunding and improvement bonds
Amount:	$197.31 million
Type:	Competitive
Pricing date:	May 6
Settlement date:	May 21
$169,135,000 series 2015 improvement bonds (Aa1/AAA/AA+)
Amount	Maturity	Type	Coupon	Price	Yield
$2,895,000	2016	Serial	5%	106.919	0.45%
$3.04 million	2017	Serial	5%	110.489	0.80%
$3,195,000	2018	Serial	5%	113.458	1.10%
$3,355,000	2019	Serial	5%	115.883	1.37%
$3.52 million	2020	Serial	5%	118.208	1.55%
$3,695,000	2021	Serial	5%	119.897	1.76%
$3.88 million	2022	Serial	5%	121.179	1.96%
$4,075,000	2023	Serial	5%	122.184	2.14%
$4.28 million	2024	Serial	5%	123.175	2.28%
$4,495,000	2025	Serial	5%	123.249	2.38%
$4.72 million	2026	Serial	4%	113.516	2.47%
$4,905,000	2027	Serial	4%	112.381	2.59%
$5.1 million	2028	Serial	5%	119.31	2.78%
$5,355,000	2029	Serial	5%	118.733	2.84%
$5,625,000	2030	Serial	4%	105.846	3.31%
$5.85 million	2031	Serial	4%	105.322	3.37%
$6,085,000	2032	Serial	4%	104.801	3.43%
$6,325,000	2033	Serial	4%	104.455	3.47%
$6.58 million	2034	Serial	4%	104.111	3.51%
$6,845,000	2035	Serial	4%	103.768	3.55%
$7,115,000	2036	Serial	4%	103.511	3.58%
$7.4 million	2037	Serial	4%	103.255	3.61%
$7.7 million	2038	Serial	4%	102.831	3.66%
$8,005,000	2039	Serial	4%	102.493	3.70%
$8,325,000	2040	Serial	4%	101.821	3.78%
$36.77 million	2044	Term	4%	101.237	3.85%
$28,175,000 series 2015B taxable improvement bonds (Aaa/AAA/AAA)
Amount	Maturity	Type	Coupon	Price	Yield
$1.12 million	2016	Serial	0.28%	100	0.28%
$1.13 million	2017	Serial	0.73%	100	0.73%
$1.14 million	2018	Serial	1.20%	100	1.20%
$1,155,000	2019	Serial	1.58%	100	1.58%
$1,175,000	2020	Serial	1.85%	100	1.85%
$1.2 million	2021	Serial	2.15%	100	2.15%
$1,225,000	2022	Serial	2.40%	100	2.40%
$1,255,000	2023	Serial	2.60%	100	2.60%
$1.29 million	2024	Serial	2.75%	100	2.75%
$1.33 million	2025	Serial	2.90%	100	2.90%
$1.37 million	2026	Serial	3.07%	100	3.07%
$1,415,000	2027	Serial	3.22%	100	3.22%
$1.46 million	2028	Serial	3.42%	100	3.42%
$1,515,000	2029	Serial	3.63%	100	3.63%
$1.57 million	2030	Serial	3.73%	100	3.73%
$1.63 million	2031	Serial	3.78%	100	3.78%
$7,195,000	2035	Term	3.96%	100	3.96%

© 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.