Published on 6/1/2016 in the Prospect News Municipals Daily.
New Issue: Tempe, Ariz., hits market with $100.07 million general obligation bonds
By Sheri Kasprzak
New York, June 1 – The City of Tempe, Ariz., priced $100.07 million of series 2016 general obligation bonds, said a pricing sheet.
The offering included $13.63 million of series 2016A bonds and $86.44 million of series 2016B refunding bonds.
The 2016A bonds are due 2017 to 2036 with 2% to 3% coupons and yields from 0.72% to 2.98%.
The 2016B bonds are due 2017 to 2029 with coupons from 2% to 4% and yields from 0.72% to 2.29%.
The bonds (Aa1/AAA/AAA) were sold through senior manager RBC Capital Markets LLC.
Proceeds will be used to finance capital projects and refund existing G.O. debt.
| Issuer: | Tempe, Ariz.
|
| Issue: | Series 2016 general obligation bonds
|
| Amount: | $100.07 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Moody’s: Aa1
|
| S&P: AAA
|
| Fitch: AAA
|
| Pricing date: | May 24
|
| Settlement date: | June 23
|
|
|
| $13.63 million series 2016A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $540,000 | 2017 | Serial | 2% | 101.301 | 0.72%
|
| $550,000 | 2018 | Serial | 2% | 102.341 | 0.83%
|
| $560,000 | 2019 | Serial | 2% | 109.222 | 0.99%
|
| $575,000 | 2020 | Serial | 2% | 103.411 | 1.13%
|
| $585,000 | 2021 | Serial | 2% | 103.343 | 1.31%
|
| $595,000 | 2022 | Serial | 2% | 103.16 | 1.45%
|
| $610,000 | 2023 | Serial | 2% | 103.117 | 1.53%
|
| $615,000 | 2024 | Serial | 2% | 102.543 | 1.66%
|
| $635,000 | 2025 | Serial | 3% | 109.864 | 1.81%
|
| $655,000 | 2026 | Serial | 3% | 109.325 | 1.97%
|
| $680,000 | 2027 | Serial | 3% | 107.626 | 2.15%
|
| $690,000 | 2028 | Serial | 3% | 106.233 | 2.30%
|
| $710,000 | 2029 | Serial | 3% | 104.861 | 2.45%
|
| $735,000 | 2030 | Serial | 3% | 103.598 | 2.59%
|
| $755,000 | 2031 | Serial | 3% | 102.441 | 2.72%
|
| $780,000 | 2032 | Serial | 3% | 102 | 2.77%
|
| $800,000 | 2033 | Serial | 3% | 101.561 | 2.82%
|
| $825,000 | 2034 | Serial | 3% | 101.037 | 2.88%
|
| $855,000 | 2035 | Serial | 3% | 100.603 | 2.93%
|
| $880,000 | 2036 | Serial | 3% | 100.171 | 2.98%
|
|
|
| $86.44 million series 2016B refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,725,000 | 2017 | Serial | 2% | 101.301 | 0.72%
|
| $3.55 million | 2020 | Serial | 2% | 103.411 | 1.13%
|
| $6,495,000 | 2021 | Serial | 2% | 103.343 | 1.31%
|
| $6,665,000 | 2022 | Serial | 2% | 103.16 | 1.45%
|
| $6,845,000 | 2023 | Serial | 4% | 116.385 | 1.53%
|
| $7.16 million | 2024 | Serial | 4% | 117.507 | 1.66%
|
| $17,935,000 | 2025 | Serial | 4% | 118.153 | 1.81%
|
| $13.07 million | 2026 | Serial | 4% | 118.58 | 1.95%
|
| $8,265,000 | 2027 | Serial | 4% | 117.288 | 2.08%
|
| $8,665,000 | 2028 | Serial | 4% | 116.012 | 2.21%
|
| $4,065,000 | 2029 | Serial | 4% | 115.235 | 2.29%
|
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