By Sheri Kasprzak
New York, Dec. 9 - The District of Columbia priced $501 million in series 2009E income tax secured revenue bonds, said a sellside source close to the deal.
The bonds (Aa2/AAA/AA) were sold through J.P. Morgan Securities Inc. and Loop Capital Markets LLC. Barclays Capital Inc.; Goldman, Sachs & Co.; Merrill Lynch & Co.; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; M.R. Beal & Co.; Ramirez & Co. Inc.; Rice Financial Products Co.; Siebert Brandford Shank & Co. LLC; and Wells Fargo Securities Inc. were the co-managers.
The bonds are due 2018 to 2024 with term bonds due 2029 and 2034. The coupons for the serial bonds range from 4.343% to 5.093%, all priced at par. The 2029 bonds were not reoffered. The 2034 bonds have a 5.591% coupon, priced at par.
Proceeds will be used to fund capital projects.
| Issuer: | District of Columbia
|
| Issue: | Series 2009E income tax secured revenue bonds
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| Amount: | $501 million
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| Maturities: | 2018 to 2024 with term bonds due 2029 and 2034
|
| Yields: | 4.343% to 5.093% (for serials); 5.591% (for 2034 bonds)
|
| Type: | Negotiated
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| Underwriters: | J.P. Morgan Securities Inc. and Loop Capital Markets LLC (leads); Barclays Capital Inc.; Goldman, Sachs & Co.; Merrill Lynch & Co.; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; M.R. Beal & Co.; Ramirez & Co. Inc.; Rice Financial Products Co.; Siebert Brandford Shank & Co. LLC; and Wells Fargo Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
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| Standard & Poor's: AAA
|
| Fitch: AA
|
| Pricing date: | Dec. 9
|
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