Published on 8/23/2012 in the Prospect News Municipals Daily.
New Issue: Austin prices $108.06 million of public improvement bonds
By Sheri Kasprzak
New York, Aug. 23 - The City of Austin priced $108,055,000 of series 2012 bonds, said a pricing sheet.
The deal included $74.28 million of series 2012A public improvement bonds, $6.64 million of series 2012B taxable public improvement bonds and $27,135,000 of series 2012 public property finance contractual obligations.
The 2012A bonds are due 2013 and 2023 to 2032 with 3% to 5% coupons. The 2012B bonds are due 2013 and 2015 to 2029 with a term bond due in 2032. The serial coupons range from 2% to 3.3%. The 2032 bonds have a 3.5% coupon priced at par.
The contractual obligations are due 2013 to 2019 with 1% to 4% coupons.
The bonds (Aaa/AAA/AAA) were sold on a competitive basis.
Proceeds will be used to fund various capital improvements in the city and purchase equipment and personal property for city departments.
Issuer: | City of Austin
|
Issue: | Series 2012 bonds
|
Amount: | $108,055,000
|
Type: | Competitive
|
Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
Pricing date: | Aug. 23
|
Settlement date: | Sept. 1
|
|
$74.28 million series 2012A public improvement bonds
|
Amount | Maturity | Type | Coupon | Price
|
$3,335,000 | 2013 | Term | 3% | 102.539
|
$9,175,000 | 2023 | Serial | 3% | 107.178
|
$11.21 million | 2024 | Serial | 3% | 105.623
|
$11,205,000 | 2025 | Serial | 5% | 123.499
|
$9,445,000 | 2026 | Serial | 4% | 112.436
|
$4,895,000 | 2028 | Serial | 4% | 111.141
|
$5.11 million | 2029 | Serial | 3% | 98.95
|
$5.25 million | 2030 | Serial | 4% | 110.045
|
$7,935,000 | 2031 | Serial | 3% | 97.455
|
$6.72 million | 2032 | Serial | 3.1% | 98.534
|
|
$6.64 million series 2012B taxable public improvement bonds
|
Amount | Maturity | Type | Coupon | Price
|
$880,000 | 2013 | Serial | 2% | 101.43
|
$250,000 | 2015 | Serial | 2% | 103.735
|
$245,000 | 2016 | Serial | 2% | 104.214
|
$235,000 | 2017 | Serial | 2% | 104.044
|
$230,000 | 2018 | Serial | 2% | 103.39
|
$225,000 | 2019 | Serial | 2% | 101.947
|
$320,000 | 2020 | Serial | 2.5% | 103.639
|
$315,000 | 2021 | Serial | 2.5% | 102.413
|
$305,000 | 2022 | Serial | 2.5% | 100.876
|
$350,000 | 2023 | Serial | 2.55% | 100
|
$355,000 | 2024 | Serial | 2.7% | 100
|
$365,000 | 2025 | Serial | 2.85% | 100
|
$380,000 | 2026 | Serial | 3% | 100
|
$410,000 | 2028 | Serial | 3.2% | 100
|
$425,000 | 2029 | Serial | 3.3% | 100
|
$1.35 million | 2032 | Term | 3.5% | 100
|
|
$27,135,000 series 2012 public property finance contractual obligations
|
Amount | Maturity | Type | Coupon | Price
|
$1.69 million | 2013 | Serial | 1% | 100.459
|
$1,805,000 | 2013 | Serial | 2% | 101.877
|
$1.8 million | 2014 | Serial | 2% | 102.653
|
$1,845,000 | 2014 | Serial | 3% | 105.452
|
$1,845,000 | 2015 | Serial | 3% | 106.574
|
$1.9 million | 2015 | Serial | 4% | 110.731
|
$1,905,000 | 2016 | Serial | 3% | 108.512
|
$1,975,000 | 2016 | Serial | 4% | 113.493
|
$1.97 million | 2017 | Serial | 3% | 109.768
|
$2.04 million | 2017 | Serial | 4% | 115.505
|
$2.04 million | 2018 | Serial | 3% | 110.132
|
$2,115,000 | 2018 | Serial | 4% | 116.548
|
$2.11 million | 2019 | Serial | 3% | 110.016
|
$2,095,000 | 2019 | Serial | 4% | 117.087
|
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