Published on 6/18/2013 in the Prospect News Municipals Daily.
New Issue: Reno, Nev., sells $68.74 million G.O. bonds through JPMorgan
By Sheri Kasprzak
New York, June 18 - The City of Reno, Nev., sold $68.74 million of series 2013 general obligation bonds, according to a pricing sheet.
The deal included $35,915,000 of series 2013A G.O. capital improvement refunding bonds and $32,825,000 of series 2013B limited tax G.O. bonds.
The 2013A bonds are due 2017 to 2032 with 3% to 5% coupons. The 2013B bonds are due 2014 to 2023 with coupons from 2% to 5%.
The bonds (A1) were sold through J.P. Morgan Securities LLC as the senior manager.
Proceeds will be used to refund existing G.O. debt.
| Issuer: | City of Reno, Nev.
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $68.74 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC (lead)
|
| Rating: | Moody's: A1
|
| Pricing date: | June 18
|
| Settlement date: | July 9
|
|
|
| $35,915,000 series 2013A G.O. capital improvement refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $50,000 | 2017 | Serial | 3% | 104.762
|
| $1,165,000 | 2018 | Serial | 4% | 108.743
|
| $1,295,000 | 2019 | Serial | 5% | 114.032
|
| $1,435,000 | 2020 | Serial | 5% | 114.377
|
| $1,585,000 | 2021 | Serial | 5% | 113.736
|
| $1,745,000 | 2022 | Serial | 5% | 113.255
|
| $1,915,000 | 2023 | Serial | 5% | 113.075
|
| $2.09 million | 2024 | Serial | 5% | 111.651
|
| $2.28 million | 2025 | Serial | 5% | 110.162
|
| $2,485,000 | 2026 | Serial | 5% | 109.04
|
| $2,695,000 | 2027 | Serial | 4% | 97.804
|
| $2,925,000 | 2028 | Serial | 5% | 107.087
|
| $3,165,000 | 2029 | Serial | 4.25% | 97.511
|
| $3.42 million | 2030 | Serial | 5% | 105.588
|
| $3.69 million | 2031 | Serial | 5% | 105.094
|
| $3,975,000 | 2032 | Serial | 5% | 104.603
|
|
|
| $32,825,000 series 2013B limited tax G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,395,000 | 2014 | Serial | 2% | 101.201
|
| $4.92 million | 2015 | Serial | 3% | 103.877
|
| $5.22 million | 2016 | Serial | 4% | 107.614
|
| $5.59 million | 2017 | Serial | 5% | 112.262
|
| $5.98 million | 2018 | Serial | 5% | 113.37
|
| $6,345,000 | 2019 | Serial | 5% | 114.032
|
| $90,000 | 2020 | Serial | 5% | 113.62
|
| $90,000 | 2021 | Serial | 5% | 111.702
|
| $95,000 | 2022 | Serial | 5% | 110.33
|
| $100,000 | 2023 | Serial | 5% | 109.427
|
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