By Sheri Kasprzak
New York, June 9 - The City and County of Denver sold $349.965 million in series 2010 Better Denver Bonds Wednesday, said pricing sheets.
The sale included $37.91 million in series 2010A tax-exempt G.O. Better Denver Bonds and $312.055 million in series 2010B Better Denver Build America Bonds.
The bonds (Aaa/AAA/AAA) were sold competitively. J.P. Morgan Securities Inc. won the 2010A bonds with a 1.437621% true interest cost, and Barclays Capital Inc. won the 2010B bonds with a 5.556601% true interest cost.
The 2010A bonds are due 2011 to 2016 with coupons from 2% to 5%. The full details were not immediately available.
The 2010B bonds are due 2017 to 2021 with term bonds due 2025 and 2030. Serial coupons range from 3.78% to 4.48%, all priced at par. The 2025 bonds have a 4.83% coupon, priced at par. The 2030 bonds have a 5.65% coupon, also priced at par.
Proceeds will be used to fund infrastructure projects, including repairs and renovations to hospital facilities, improvements to city and county libraries, the restoration of roads and sidewalks, the refurbishment of parks and recreation facilities and maintenance for public buildings.
| Issuer: | City and County of Denver
|
| Issue: | Series 2010 Better Denver Bonds
|
| Amount: | $349.965 million
|
| Type: | Competitive
|
| Underwriters: | J.P. Morgan Securities Inc. (winner for 2010A); Barclays Capital Inc. (winner for 2010B)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | June 9
|
| Settlement date: | June 16
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 4%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 2%
|
| 2016 | Serial | 5%
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2017 | Serial | 3.78% | 100
|
| 2018 | Serial | 3.95% | 100
|
| 2019 | Serial | 4.28% | 100
|
| 2020 | Serial | 4.38% | 100
|
| 2021 | Serial | 4.48% | 100
|
| 2025 | Term | 4.83% | 100
|
| 2030 | Term | 5.65% | 100
|
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