By Sheri Kasprzak
New York, March 6 - The City of Boston priced $162.715 million in general obligation bonds on Thursday on a competitive basis, said Jackie Goddard with the city's finance department.
The offering included $126.185 million in series 2008A bonds and $36.53 million in series 2008B bonds with Lehman Brothers winning the bid for the 2008A bonds and Robert Baird winning the 2008B bonds.
The true interest cost for the A bonds came in at 4.214071%, and the TIC for the B bonds came at 3.1%, Goddard said.
The 2008A bonds are due from 2009 to 2028 with 5% coupons for each year and yields from 2.04% to 4.76%. The 2008B bonds are due from 2009 to 2015 with coupons from 3.25% to 4% and yields ranging from 2.3% to 3.4%.
Proceeds will be used to refund outstanding series 1998B bonds.
| Issuer: | City of Boston
|
| Issue: | General obligation bonds
|
| Amount: | $162.715 million, including $126.185 million for 2008A and $36.53 million for 2008B
|
| Type: | Competitive
|
| Maturities: | 2009 to 2028 (series 2008A); 2009 to 2015 (series 2008B)
|
| Coupons: | 5% for 2008A; 3.25% to 4% for 2008B
|
| Yields: | 2.04% to 4.76% for 2008A; 2.3% to 3.4% for series 2008B
|
| True interest cost: | 4.214071% for 2008A; 3.1% for 2008B
|
| Underwriters: | Lehman Brothers (2008A); Robert Baird (2008B)
|
| Pricing date: | March 6
|
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