By Cristal Cody
Springdale, Ark., June 5 - Tempe, Ariz., priced $66.365 million in general obligation bonds with a 4.187% true interest cost on Thursday, the issuer said in an interview.
The series 2008A bonds (Aa1//AAA) priced with 3.375% to 4.375% coupons, yielding 1.9% to 4.57%, said Jerry Hart, financial services manager.
The bonds have serial maturities from 2009 through 2028.
Robert W. Baird & Co. was the successful bidder in the competitive sale.
Proceeds will be used to finance water and sewer infrastructure, street and public safety improvements.
| Issuer: | Tempe (Arizona)
|
| Issue: | General obligation bonds
|
| Amount: | $66.365 million
|
| Type: | Competitive
|
| True interest cost: | 4.187%
|
| Coupons: | 3.375%-4.375%
|
| Yields: | 1.9%-4.57%
|
| Maturities: | 2009-2028
|
| Underwriter: | Robert W. Baird & Co.
|
| Ratings: | Moody's: Aa1
|
| Fitch: AAA
|
| Pricing date: | June 5
|
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