Published on 4/25/2012 in the Prospect News Municipals Daily.
New Issue: Colorado Springs, Colo., brings $108 million of utilities system bonds
By Sheri Kasprzak
New York, April 25 - The City of Colorado Springs, Colo., sold $108,015,000 of series 2012B utilities system refunding revenue bonds, according to a term sheet.
The bonds (Aa2/AA/AA) were sold competitively with Bank of America Merrill Lynch winning the bid.
The bonds are due 2013 to 2035 with term bonds due in 2038 and 2043. The serial coupons range from 3% to 5%. The 2038 bonds have a 4% coupon priced at 100.34, and the 2043 bonds have a 4% coupon priced at par.
Proceeds will be used to current refund existing utilities system revenue bonds.
| Issuer: | City of Colorado Springs, Colo.
|
| Issue: | Series 2012B utilities system refunding revenue bonds
|
| Amount: | $108,015,000
|
| Type: | Competitive
|
| Underwriters: | Bank of America Merrill Lynch (winner)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | April 25
|
| Settlement date: | May 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $185,000 | 2013 | Serial | 3% | 104.113
|
| $190,000 | 2014 | Serial | 3% | 106.244
|
| $3,455,000 | 2015 | Serial | 5% | 114.535
|
| $3.82 million | 2016 | Serial | 5% | 117.524
|
| $3,815,000 | 2017 | Serial | 5% | 119.929
|
| $4 million | 2018 | Serial | 5% | 121.998
|
| $4,205,000 | 2019 | Serial | 5% | 124.469
|
| $4.42 million | 2020 | Serial | 5% | 125.521
|
| $4.64 million | 2021 | Serial | 5% | 125.978
|
| $4,875,000 | 2022 | Serial | 5% | 126.697
|
| $5,515,000 | 2023 | Serial | 5% | 125.094
|
| $7.68 million | 2024 | Serial | 5% | 123.619
|
| $8.06 million | 2025 | Serial | 5% | 122.165
|
| $4,085,000 | 2026 | Serial | 5% | 120.833
|
| $4.29 million | 2027 | Serial | 3% | 100
|
| $4,425,000 | 2028 | Serial | 4% | 107.188
|
| $4.6 million | 2030 | Serial | 4% | 105.812
|
| $4,785,000 | 2031 | Serial | 4% | 105.267
|
| $4.98 million | 2032 | Serial | 4% | 104.726
|
| $5,175,000 | 2033 | Serial | 4% | 104.098
|
| $1,745,000 | 2034 | Serial | 3.5% | 96.22
|
| $1,805,000 | 2035 | Serial | 3.75% | 98.919
|
| $5.85 million | 2038 | Term | 4% | 100.34
|
| $11,415,000 | 2043 | Term | 4% | 100
|
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