Published on 6/23/2015 in the Prospect News Municipals Daily.
New Issue: Seattle, Wash., prices $164.28 million of light and power revenue bonds
By Sheri Kasprzak
New York, June 23 – The City of Seattle, Wash., priced $164.28 million of series 2015A municipal light and power revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold competitively. The issuer did not respond to requests for the winning bidder Tuesday.
The bonds are due 2016 to 2040 with a term bond due in 2045. The serial coupons range from 4% to 5%. The 2045 bonds have a 4% coupon priced at par.
Proceeds will be used to finance capital improvements to the city’s light system.
| Issuer: | City of Seattle, Wash.
|
| Issue: | Series 2015A municipal light and power revenue bonds
|
| Amount: | $164.28 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Pricing date: | June 23
|
| Settlement date: | July 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,185,000 | 2016 | Serial | 5% | 103.763
|
| $6.23 million | 2017 | Serial | 5% | 107.63
|
| $5.96 million | 2018 | Serial | 5% | 110.765
|
| $5,695,000 | 2019 | Serial | 5% | 113.512
|
| $5,415,000 | 2020 | Serial | 5% | 115.581
|
| $5,155,000 | 2021 | Serial | 5% | 117.157
|
| $5,375,000 | 2022 | Serial | 5% | 118.312
|
| $5.65 million | 2023 | Serial | 5% | 119.595
|
| $5.94 million | 2024 | Serial | 5% | 120.271
|
| $6,245,000 | 2025 | Serial | 5% | 121.144
|
| $3,235,000 | 2026 | Serial | 5% | 119.99
|
| $3,405,000 | 2027 | Serial | 4% | 108.885
|
| $3,575,000 | 2028 | Serial | 4% | 107.559
|
| $3.76 million | 2029 | Serial | 4% | 106.426
|
| $3.95 million | 2030 | Serial | 4% | 105.307
|
| $4,155,000 | 2031 | Serial | 4% | 103.612
|
| $4,365,000 | 2032 | Serial | 4% | 103.391
|
| $4.59 million | 2033 | Serial | 4% | 102.777
|
| $4,825,000 | 2034 | Serial | 4% | 102.445
|
| $5,075,000 | 2035 | Serial | 4% | 102.114
|
| $5,335,000 | 2036 | Serial | 4% | 101.785
|
| $5.61 million | 2037 | Serial | 4% | 101.456
|
| $5,895,000 | 2038 | Serial | 4% | 101.129
|
| $6,195,000 | 2039 | Serial | 4% | 100.804
|
| $6.52 million | 2040 | Serial | 4% | 100.56
|
| $37.94 million | 2045 | Term | 4% | 100
|
|
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