Published on 6/5/2013 in the Prospect News Municipals Daily.
New Issue: Tempe, Ariz., sells $54.75 million general obligation bonds through RBC
By Sheri Kasprzak
New York, June 5 - The City of Tempe, Ariz., sold $54,745,000 of series 2013 general obligation bonds, according to a pricing sheet. The deal was downsized from $63,285,000.
The bonds (Aa1) were sold through senior manager RBC Capital Markets LLC.
The deal included $13,675,000 of series 2013A bonds and $41.07 million of series 2013B refunding bonds.
The 2013A bonds are due 2014 to 2033 with 1% to 4% coupons and 0.3% to 3.8% yields.
The 2013B bonds are due 2014 to 2024 with 1% to 5% coupons and yields from 0.22% to 2.97%.
Proceeds will be used to finance public safety, street and park improvements and other infrastructure improvements, as well as to refund certain maturities of existing debt.
| Issuer: | City of Tempe, Ariz.
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $54,745,000
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC (lead)
|
| Rating: | Moody's: Aa1
|
| Pricing date: | June 5
|
| Settlement date: | June 19
|
|
|
| $13,675,000 series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $515,000 | 2014 | Serial | 1% | 100.721 | 0.30%
|
| $535,000 | 2015 | Serial | 2% | 103.03 | 0.50%
|
| $545,000 | 2016 | Serial | 1.5% | 102.245 | 0.75%
|
| $545,000 | 2017 | Serial | 1.75% | 102.837 | 1.03%
|
| $565,000 | 2018 | Serial | 1.75% | 102.136 | 1.31%
|
| $570,000 | 2019 | Serial | 2% | 102.001 | 1.65%
|
| $580,000 | 2020 | Serial | 3% | 106.937 | 1.94%
|
| $600,000 | 2021 | Serial | 3% | 105.483 | 2.25%
|
| $620,000 | 2022 | Serial | 3% | 104.02 | 2.50%
|
| $640,000 | 2023 | Serial | 4% | 110.894 | 2.75%
|
| $665,000 | 2024 | Serial | 4% | 108.879 | 2.97%
|
| $690,000 | 2025 | Serial | 4% | 107.44 | 3.13%
|
| $715,000 | 2026 | Serial | 4% | 106.464 | 3.24%
|
| $750,000 | 2027 | Serial | 4% | 105.673 | 3.33%
|
| $775,000 | 2028 | Serial | 4% | 104.63 | 3.45%
|
| $805,000 | 2029 | Serial | 4% | 103.598 | 3.57%
|
| $835,000 | 2030 | Serial | 4% | 103.087 | 3.63%
|
| $875,000 | 2031 | Serial | 4% | 102.578 | 3.69%
|
| $910,000 | 2032 | Serial | 4% | 102.073 | 3.75%
|
| $940,000 | 2033 | Serial | 4% | 101.654 | 3.80%
|
|
|
| $41.07 million series 2013B refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,285,000 | 2014 | Serial | 1% | 100.804 | 0.22%
|
| $1.08 million | 2015 | Serial | 2% | 103.03 | 0.50%
|
| $90,000 | 2016 | Serial | 2% | 103.741 | 0.75%
|
| $3,035,000 | 2017 | Serial | 1.75% | 102.837 | 1.03%
|
| $3.09 million | 2018 | Serial | 2% | 103.35 | 1.31%
|
| $7,555,000 | 2019 | Serial | 4% | 113.442 | 1.65%
|
| $4,855,000 | 2020 | Serial | 4% | 113.482 | 1.94%
|
| $3 million | 2020 | Serial | 5% | 120.026 | 1.94%
|
| $8,205,000 | 2021 | Serial | 4% | 112.794 | 2.25%
|
| $5.01 million | 2022 | Serial | 4.5% | 116.081 | 2.50%
|
| $1.39 million | 2023 | Serial | 4% | 110.894 | 2.75%
|
| $1,475,000 | 2024 | Serial | 4% | 108.879 | 2.97%
|
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