Published on 3/7/2012 in the Prospect News Municipals Daily.
New Issue: Industrial Development Authority of Tempe, Ariz., prices $77.02 million bonds
By Sheri Kasprzak
New York, March 7 - The Industrial Development Authority of Tempe, Ariz., sold $77.02 million of series 2012 revenue refunding bonds, according to a pricing sheet.
The deal included $72.56 million of series 2012A bonds and $4.46 million of series 2012B taxable bonds.
The 2012A bonds are due 2018 to 2022 with term bonds due in 2027, 2032, 2042 and 2046. The serial coupons range from 4% to 5.5%. The 2027 bonds have a 6% coupon priced at 103.328, and the 2032 bonds have a 6% coupon priced at 100.719. The 2042 bonds have a 6.25% coupon priced at par, and the 2046 bonds have a 6.25% coupon priced at 99.287.
The 2012B bonds are due 2012 to 2017 with 3.5% to 5.625% coupons, all priced at par.
The bonds were sold through Ziegler Capital Markets Inc.
Proceeds will be used to refund existing debt and make a deposit to a debt service reserve fund.
| Issuer: | Industrial Development Authority of Tempe, Ariz.
|
| Issue: | Series 2012 revenue refunding bonds
|
| Amount: | $77.02 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Markets Inc.
|
| Pricing date: | March 7
|
| Settlement date: | March 22
|
|
|
| $72.56 million series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,005,000 | 2018 | Serial | 5% | 104.322
|
| $410,000 | 2017 | Serial | 4% | 100
|
| $1,055,000 | 2019 | Serial | 5% | 103.082
|
| $1,105,000 | 2020 | Serial | 5.25% | 103.231
|
| $1,165,000 | 2021 | Serial | 5.375% | 102.844
|
| $1,225,000 | 2022 | Serial | 5.5% | 102.636
|
| $7,295,000 | 2027 | Term | 6% | 103.328
|
| $9,755,000 | 2032 | Term | 6% | 100.719
|
| $30,895,000 | 2042 | Term | 6.25% | 100
|
| $18.65 million | 2046 | Term | 6.25% | 99.287
|
|
|
| $4.46 million series 2012B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $535,000 | 2012 | Serial | 3.5% | 100
|
| $790,000 | 2013 | Serial | 4% | 100
|
| $825,000 | 2014 | Serial | 4.5% | 100
|
| $860,000 | 2015 | Serial | 5.125% | 100
|
| $905,000 | 2016 | Serial | 5.375% | 100
|
| $545,000 | 2017 | Serial | 5.625% | 100
|
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