New Issue: Austin, Texas, sells $137.69 million certificates and public improvement bonds

By Sheri Kasprzak

New York, Aug. 25 - The City of Austin, Texas, priced $137.69 million of series 2011 certificates of obligation and public improvement bonds on Thursday, according to a pricing sheet.

The bonds (/AAA/AAA) were sold competitively. The issuer did not return calls for the winning bidder by press time Thursday.

The offering included $51.15 million of series 2011 certificates of obligation, $78.09 million of series 2011A tax-exempt public improvement bonds and $8.45 million of series 2011B taxable public improvement bonds.

The 2011 certificates are due 2012 to 2028 with term bonds due in 2030, 2033, 2036, 2039 and 2041. The serial coupons range from 3% to 5%. The 2030 bonds have a 4% coupon priced at 99.34, and the 2033 bonds have a 4% coupon priced at 97.852. The 2036 bonds have a 4.125% coupon priced at 98.087, and the 2039 bonds have a 4.25% coupon priced at 99.188. The 2041 bonds have a 4.25% coupon priced at 98.332.

The 2011A bonds are due 2012 to 2029 with a term bond due in 2031. The serial coupons range from 2% to 4%. The 2031 bonds have a 4% coupon priced at 98.645.

The 2011B bonds are due 2016 to 2031 with 5.25% coupons across the board.

Proceeds will be used to finance municipal improvements and refund existing obligations.

Issuer:	City of Austin
Issue:	Series 2011 certificates of obligation and public improvement bonds
Amount:	$137.69 million
Type:	Competitive
Ratings:	Standard & Poor's: AAA
	Fitch: AAA
Pricing date:	Aug. 25
Settlement date:	Sept. 1
$51.15 million series 2011 certificates of obligation
Amount	Maturity	Type	Coupon	Price
$485,000	2012	Serial	3%	102.447
$510,000	2013	Serial	3%	104.937
$1.13 million	2014	Serial	3%	107.118
$1.19 million	2015	Serial	3%	108.851
$1.255 million	2016	Serial	3%	109.404
$1.32 million	2017	Serial	3%	109.398
$1.385 million	2018	Serial	3%	108.438
$1.455 million	2019	Serial	3%	107.279
$1.525 million	2020	Serial	3%	105.608
$1.605 million	2021	Serial	3%	103.472
$3.455 million	2023	Serial	3.125%	98.771
$1.85 million	2024	Serial	4%	106.224
$1.945 million	2025	Serial	4%	104.903
$2.045 million	2026	Serial	5%	118.587
$2.145 million	2027	Serial	5%	118.176
$2.25 million	2028	Serial	4%	101.226
$4.85 million	2030	Term	4%	99.34
$5.565 million	2033	Term	4%	97.852
$5.015 million	2036	Term	4.125%	98.087
$5.805 million	2039	Term	4.25%	99.188
$4.365 million	2041	Term	4.25%	98.332
$78.09 million series 2011A tax-exempt public improvement bonds
Amount	Maturity	Type	Coupon	Price
$8.4 million	2012	Serial	2.25%	101.804
$100,000	2014	Serial	2%	104.236
$100,000	2015	Serial	2%	105.042
$1.25 million	2016	Serial	2%	104.63
$100,000	2017	Serial	2%	103.736
$100,000	2018	Serial	2%	101.947
$2 million	2019	Serial	2%	100
$100,000	2020	Serial	3%	105.608
$3.85 million	2021	Serial	4%	112.157
$2.88 million	2022	Serial	3%	100
$2.06 million	2023	Serial	3.125%	98.869
$4.32 million	2024	Serial	4%	106.224
$9.93 million	2025	Serial	4%	105.015
$7.8 million	2026	Serial	4%	103.877
$10.4 million	2028	Serial	4%	101.599
$14.7 million	2029	Serial	4%	100
$10 million	2031	Term	4%	98.645
$8.45 million series 2011B public improvement bonds
Maturity	Type	Coupon
2016	Serial	5.25%
2017	Serial	5.25%
2019	Serial	5.25%
2021	Serial	5.25%
2022	Serial	5.25%
2023	Serial	5.25%
2024	Serial	5.25%
2025	Serial	5.25%
2026	Serial	5.25%
2027	Serial	5.25%
2028	Serial	5.25%
2029	Serial	5.25%
2030	Serial	5.25%
2031	Serial	5.25%

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