By Sheri Kasprzak
New York, Aug. 27 - The city of Austin, Texas, sold $136.385 million in series 2009 public improvement bonds and certificates Thursday, according to a pricing sheet.
The sale included $46.24 million in series 2009A public improvement bonds, $63.845 million in series 2009B public improvement Build America Bonds, $12.5 million in series 2009 certificates of obligation and $13.8 million in series 2009 public property finance contractual obligations.
The 2009A bonds are due 2010 to 2016 with coupons from 2.5% to 5%.
The 2009B bonds are due 2017 to 2020 with term bonds due 2024 and 2029. The serials have coupons from 4.146% to 4.696%, all priced at par. The 2024 bonds have a 4.746% coupon, and the 2029 bonds have a 5.31% coupon, both priced at par.
The 2009 certificates of obligation are due 2010 to 2029 with term bonds due 2034 and 2039. The serial bonds' coupons range from 2.5% to 4.25%. The 2034 bonds have a 4.7% coupon and 2039 bonds have a 4.75% coupon.
The 2009 public property finance contractual obligations are due 2010 to 2019 with coupons from 2.5% to 3.25%.
J.P. Morgan Securities Inc. and Estrada Hinojosa & Co. Inc. were the lead managers. The co-managers included First Southwest Co.; Goldman, Sachs & Co.; Merrill Lynch & Co. Inc.; Ramirez & Co. Inc.; and RBC Capital Markets Inc.
Proceeds will be used to purchase equipment and to make capital improvements.
| Issuer: | City of Austin
|
| Issue: | Series 2009 public improvement bonds and certificates
|
| Amount: | $136.385 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. and Estrada Hinojosa & Co. Inc. (lead); First Southwest Co.; Goldman, Sachs & Co.; Merrill Lynch & Co. Inc.; Ramirez & Co. Inc.; and RBC Capital Markets Inc. (co-managers)
|
| Pricing date: | Aug. 27
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon
|
| 2010 | Serial | 2.5%
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 5%
|
| 2015 | Serial | 5.25%
|
| 2016 | Serial | 5%
|
|
|
| Series 2009B BABs
|
| Maturity | Type | Coupon | Price
|
| 2017 | Serial | 4.146% | Par
|
| 2018 | Serial | 4.346% | Par
|
| 2019 | Serial | 4.446% | Par
|
| 2020 | Serial | 4.696% | Par
|
| 2024 | Term | 4.746% | Par
|
| 2029 | Term | 5.310% | Par
|
|
|
| Series 2009 public property contractual obligations
|
| Maturity | Type | Coupon
|
| 2010 | Serial | 2.5%
|
| 2010 | Serial | 3%
|
| 2011 | Serial | 3%
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 2%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 2%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 3%
|
| 2014 | Serial | 3%
|
| 2015 | Serial | 3%
|
| 2015 | Serial | 3%
|
| 2016 | Serial | 3%
|
| 2016 | Serial | 3%
|
| 2017 | Serial | 3%
|
| 2017 | Serial | 3%
|
| 2018 | Serial | 3%
|
| 2018 | Serial | 3%
|
| 2019 | Serial | 3.125%
|
| 2019 | Serial | 3.25%
|
|
|
| Series 2009 certificates of obligation
|
| Maturity | Type | Coupon
|
| 2010 | Serial | 2.5%
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 3%
|
| 2015 | Serial | 3%
|
| 2016 | Serial | 3%
|
| 2017 | Serial | 3%
|
| 2018 | Serial | 3%
|
| 2019 | Serial | 3.125%
|
| 2020 | Serial | 3.375%
|
| 2021 | Serial | 3.5%
|
| 2022 | Serial | 3.625%
|
| 2023 | Serial | 3.75%
|
| 2024 | Serial | 3.875%
|
| 2025 | Serial | 4%
|
| 2026 | Serial | 4%
|
| 2027 | Serial | 4.125%
|
| 2028 | Serial | 4.2%
|
| 2029 | Serial | 4.25%
|
| 2034 | Term | 4.7%
|
| 2039 | Term | 4.75%
|
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