Published on 8/31/2011 in the Prospect News Municipals Daily.
New Issue: Tampa, Fla., sells $121.05 million water and sewer system bonds
By Sheri Kasprzak
New York, Aug. 31 - The City of Tampa priced $121.05 million of series 2011 water and sewer systems improvement and refunding revenue bonds on Wednesday, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold through Wells Fargo Securities LLC with Bank of America Merrill Lynch, Loop Capital Markets LLC, Morgan Stanley & Co. LLC and Raymond James & Associates Inc. as the co-managers.
The bonds are due 2012 to 2031 with 2% to 5% coupons.
Proceeds will be used to prepay outstanding notes, to refund the city's series 2001A water and sewer revenue bonds and fund various sewer capital improvements included in the city's five-year capital improvement program.
| Issuer: | City of Tampa
|
| Issue: | Series 2011 water and sewer systems improvement and refunding revenue bonds
|
| Amount: | $121.05 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), Bank of America Merrill Lynch, Loop Capital Markets LLC, Morgan Stanley & Co. LLC and Raymond James & Associates Inc. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.39 million | 2012 | Serial | 2% | 101.824
|
| $1.54 million | 2013 | Serial | 2% | 103.026
|
| $1.57 million | 2014 | Serial | 4% | 110.114
|
| $1.665 million | 2015 | Serial | 4% | 112.497
|
| $1.605 million | 2016 | Serial | 2% | 103.655
|
| $1.46 million | 2017 | Serial | 3% | 108.335
|
| $4.485 million | 2018 | Serial | 4% | 113.713
|
| $1.4 million | 2018 | Serial | 5% | 120.275
|
| $1.61 million | 2019 | Serial | 3% | 105.792
|
| $4.525 million | 2019 | Serial | 5% | 120.457
|
| $3.365 million | 2020 | Serial | 2.5% | 99.918
|
| $3.045 million | 2020 | Serial | 5% | 120.034
|
| $1.845 million | 2021 | Serial | 3.75% | 109.09
|
| $4.795 million | 2021 | Serial | 5% | 120.017
|
| $1.425 million | 2022 | Serial | 4% | 109.538
|
| $5.53 million | 2022 | Serial | 5% | 118.89
|
| $780,000 | 2023 | Serial | 3% | 98.308
|
| $6.5 million | 2023 | Serial | 5% | 118.201
|
| $790,000 | 2024 | Serial | 3.25% | 98.532
|
| $6.84 million | 2024 | Serial | 5% | 117.435
|
| $500,000 | 2025 | Serial | 3.5% | 99.449
|
| $7.5 million | 2025 | Serial | 5% | 117.136
|
| $370,000 | 2026 | Serial | 4% | 103.787
|
| $8.025 million | 2026 | Serial | 5% | 116.532
|
| $8.81 million | 2027 | Serial | 5% | 115.885
|
| $2.11 million | 2028 | Serial | 4% | 100
|
| $7.14 million | 2028 | Serial | 5% | 115.225
|
| $1.1 million | 2029 | Serial | 4% | 99.362
|
| $8.59 million | 2029 | Serial | 5% | 114.575
|
| $1.905 million | 2030 | Serial | 4% | 98.685
|
| $11.09 million | 2031 | Serial | 4% | 97.571
|
| $7.745 million | 2031 | Serial | 4.125% | 99.256
|
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