By Sheri Kasprzak
New York, Aug. 17 - The City of Wichita, Kan., sold $188.805 million in series 2010 general obligation bonds and notes on Tuesday, said a term sheet.
The sale included $21.42 million in series 2010A sales tax refunding bonds, $27.385 million in series 2010B refunding bonds and $140 million in series 240 G.O. improvement temporary notes.
J.P. Morgan Securities Inc. won the bid with a 0.41% true interest cost.
The 2010A bonds are due 2012 to 2019 with coupons from 2% to 3%. The 2010B bonds are due 2011 to 2018 with coupons from 3% 4%. The series 240 bonds are due Sept. 15, 2011 with a 0.45% coupon priced at 100.099.
Proceeds will be used to refund the city's outstanding series 768, 770, 772, 773 and 774 bonds and to provide temporary financing for improvements to the water system aquifer storage and recovery project.
| Issuer: | City of Wichita, Kan.
|
| Issue: | Series 2010 general obligation bonds and notes
|
| Amount: | $188.805 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| True interest cost: | 0.41%
|
| Pricing date: | Aug. 17
|
| Settlement date: | Sept. 15
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 104.070
|
| 2013 | Serial | 3% | 106.122
|
| 2014 | Serial | 3% | 107.739
|
| 2015 | Serial | 3% | 107.886
|
| 2016 | Serial | 2% | 102.380
|
| 2017 | Serial | 2.25% | 102.640
|
| 2018 | Serial | 2.25% | 101.601
|
| 2019 | Serial | 2.375% | 101.199
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 3% | 102.601
|
| 2012 | Serial | 3% | 105.066
|
| 2013 | Serial | 3% | 106.996
|
| 2014 | Serial | 3% | 108.554
|
| 2015 | Serial | 3% | 108.488
|
| 2016 | Serial | 4% | 113.709
|
| 2017 | Serial | 4% | 114.186
|
| 2018 | Serial | 4% | 114.646
|
|
|
| Series 240
|
| Maturity | Type | Coupon | Price
|
| Sept. 15, 2011 | Term | 0.45% | 100.099
|
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