By Cristal Cody
Springdale, Ark., May 28 -Dallas, Texas, priced $158.655 million of waterworks and sewer system revenue refunding bonds with a 4.567% true interest cost on Wednesday, a source connected to the deal told Prospect News.
The series 2008 bonds (Aa2/AAA/) priced with 4% to 5% coupons to yield 1.95% to 4.55% over the Oct. 1, 2008 through Oct. 1, 2030 serial maturities.
The 2033 and 2037 term bonds priced with 5% coupons to yield 4.6% to 4.67%.
Citigroup Global Markets was the winning bidder in the competitive sale.
Proceeds will be used to refund and retire $165 million of the city's outstanding $230.542 million commercial paper notes.
| Issuer: | Dallas (Texas)
|
| Issue: | Waterworks and sewer system revenue refunding bonds
|
| Amount: | $158.655 million
|
| Type: | Competitive
|
| True interest cost: | 4.567%
|
| Coupons: | 4% to 5% serials; 5% term bonds
|
| Yields: | 1.95% to 4.55% serials; 4.6% 2033 term and 4.67% 2037 term
|
| Maturities: | 2008-2030 serials; term bonds in 2033 and 2037
|
| Underwriter: | Citigroup Global Markets
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
| Pricing date: | May 28
|
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