Seattle readies $151.33 million general obligation bond deal

By Sheri Kasprzak

New York, May 2 – The City of Seattle is scheduled to price $151,325,000 of series 2016 general obligation improvement bonds on Tuesday, according to a preliminary official statement.

The offering includes $107,535,000 of series 2016A limited tax G.O. improvement and refunding bonds (Aa1/AAA/AAA), $37.75 million of series 2016 unlimited tax G.O. improvement bonds (Aaa/AAA/AAA) and $6.04 million of series 2016B taxable limited tax G.O. improvement bonds (Aa1/AAA/AAA).

The 2016A bonds are due 2017 to 2036 and the 2016 unlimited tax bonds are due 2018 to 2045. The 2016B bonds are due 2017 to 2036.

The bonds will be sold competitively with Piper Jaffray & Co. as the financial adviser.

Proceeds will be used to finance capital improvement projects and refund existing debt.

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