By Sheri Kasprzak
New York, July 27 - The City of Cincinnati sold $84.5 million of series 2011A water system revenue refunding bonds, said a pricing sheet.
The bonds (Aaa/AAA/) were sold through Morgan Stanley & Co. Inc.
The bonds are due 2011 to 2031 with a term bond due in 2036. The serial coupons range from 1% to 5%. The 2036 bonds have a 5% coupon priced at 104.08.
Proceeds will be used to finance capital improvements to the city's water system, as well as refund existing debt.
| Issuer: | City of Cincinnati
|
| Issue: | Series 2011A water system revenue refunding bonds
|
| Amount: | $84.5 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.81 million | 2011 | Serial | 1% | NRO
|
| $1.51 million | 2012 | Serial | 1.75% | NRO
|
| $1.555 million | 2013 | Serial | 3% | 105.652
|
| $6.375 million | 2014 | Serial | 5% | 113.567
|
| $1.695 million | 2015 | Serial | 3% | 107.967
|
| $1.75 million | 2016 | Serial | 4% | 113.248
|
| $1.82 million | 2017 | Serial | 2.125% | 101.987
|
| $1.855 million | 2018 | Serial | 5% | 118.946
|
| $1.95 million | 2019 | Serial | 2.75% | 101.787
|
| $150,000 | 2020 | Serial | 3.25% | 103.994
|
| $8.2 million | 2020 | Serial | 5% | 118.268
|
| $1 million | 2021 | Serial | 4% | 109.455
|
| $7.855 million | 2021 | Serial | 5% | 118.294
|
| $950,000 | 2022 | Serial | 3% | 98.673
|
| $1.455 million | 2022 | Serial | 5% | 116.263
|
| $2.275 million | 2023 | Serial | 5% | 114.462
|
| $2.39 million | 2024 | Serial | 5% | 113.156
|
| $2.505 million | 2025 | Serial | 5% | 111.959
|
| $2.635 million | 2026 | Serial | 5% | 111.14
|
| $2.765 million | 2027 | Serial | 5% | 110.328
|
| $2.9 million | 2028 | Serial | 5% | 109.522
|
| $3.045 million | 2029 | Serial | 5% | 108.724
|
| $3.2 million | 2030 | Serial | 5% | 107.933
|
| $750,000 | 2031 | Serial | 4% | 97.95
|
| $2.61 million | 2031 | Serial | 5% | 107.062
|
| $19.495 million | 2036 | Term | 5% | 104.08
|
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