By Sheri Kasprzak
New York, July 13 - The City of Tacoma in Washington priced Tuesday $187.16 million in series 2010 electric system revenue bonds (Aa3/AA/AA-), said a pricing sheet.
The offering was comprised of $15.995 million in series 2010A bonds, $146.98 million in series 2010B Build America Bonds and $24.185 million in series 2010C bonds.
The 2010A bonds are due 2014 to 2015 with 2% to 5% coupons.
The 2010B bonds are due 2032 and 2035. The 2032 bonds have a 5.791% coupon, and the 2035 bonds have a 5.966% coupon. Both priced at par.
The 2010C bonds are due 2027 with a 5.641% coupon and priced at par.
J.P. Morgan Securities Inc. was the senior manager.
Proceeds will be used to finance improvements to the city's electric system.
| Issuer: | City of Tacoma
|
| Issue: | Series 2010 electric system revenue bonds
|
| Amount: | $187.16 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | July 13
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 2% | 101.664
|
| 2014 | Serial | 4% | 108.321
|
| 2015 | Serial | 4% | 109.098
|
| 2015 | Serial | 5% | 113.331
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2032 | Term | 5.791% | 100
|
| 2035 | Term | 5.966% | 100
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| 2027 | Term | 5.641% | 100
|
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