Published on 9/24/2013 in the Prospect News Municipals Daily.
New Issue: Denver, Colo., sells $121.63 million general obligation, refunding debt
By Sheri Kasprzak
New York, Sept. 24 - The City and County of Denver, Colo., priced $121.63 million of series 2013A general obligation Better Denver and refunding bonds, according to a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold competitively with BofA Merrill Lynch winning the bid at a 2.147117% true interest cost.
The bonds are due 2014 to 2021, 2023 to 2027 and 2029 to 2030 with 3% to 5% coupons.
Proceeds will be used to advance the voter-authorized Better Denver bond program and refund some of the outstanding maturities of the city's series 2002 and 2003A-B G.O. bonds
| Issuer: | City and County of Denver
|
| Issue: | Series 2013A general obligation Better Denver and refunding bonds
|
| Amount: | $121.63 million
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| True interest cost: | 2.147117%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $15,885,000 | 2014 | Serial | 5% | 104.015
|
| $15,765,000 | 2015 | Serial | 5% | 108.496
|
| $16,475,000 | 2016 | Serial | 5% | 112.209
|
| $17.36 million | 2017 | Serial | 5% | 115.198
|
| $13.95 million | 2018 | Serial | 5% | 117.267
|
| $4,685,000 | 2019 | Serial | 5% | 118.791
|
| $4.92 million | 2020 | Serial | 5% | 120.051
|
| $5,165,000 | 2021 | Serial | 5% | 120.356
|
| $5,425,000 | 2023 | Serial | 5% | 120.841
|
| $5,695,000 | 2024 | Serial | 3% | 102.051
|
| $5.98 million | 2025 | Serial | 4% | 108.544
|
| $2,395,000 | 2026 | Serial | 4% | 106.177
|
| $2,515,000 | 2027 | Serial | 4% | 105.059
|
| $2.64 million | 2029 | Serial | 4% | 102.948
|
| $2,775,000 | 2030 | Serial | 4% | 102.035
|
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