By Sheri Kasprzak
New York, Jan. 20 – The District of Columbia priced $103.13 million of series 2016 revenue bonds for the National Law Enforcement Museum, according to a pricing sheet.
The deal included $48.13 million of series 2016A senior bonds, $30 million of series 2016B senior bonds and $25 million of series 2016C subordinate bonds.
The 2016A bonds are due 2031, 2036 and 2049. The 2031 bonds have a 7% coupon to yield 7.25%, the 2036 bonds have a 7.25% coupon to yield 7.5% and the 2049 bonds have a 7.75% coupon to yield 8%.
The 2016B bonds are due 2025 and 2027. The 2025 bonds have a 5.75% coupon priced at par, and the 2027 bonds have a 6.375% coupon priced at par.
The 2016C bonds are due 2049 with a 10% coupon priced at par.
The bonds were sold through H.J. Sims & Co.
Proceeds will be used to construct, equip and acquire a national law enforcement museum on E Street in Washington, D.C.
| Issuer: | District of Columbia
|
| Issue: | Series 2016 senior revenue bonds
|
| Amount: | $103.13 million
|
| Type: | Negotiated
|
| Underwriter: | H.J. Sims & Co. (lead)
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 27
|
|
|
| $48.13 million series 2016A senior bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $5,675,000 | 2031 | Term | 7% | 7.25%
|
| $2,825,000 | 2036 | Term | 7.25% | 7.50%
|
| $39.63 million | 2049 | Term | 7.75% | 8.00%
|
|
|
| $30 million series 2016B senior bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $22,935,000 | 2025 | Term | 5.75% | 5.75%
|
| $7,065,000 | 2027 | Term | 6.375% | 6.375%
|
|
|
| $25 million series 2016C subordinate bonds
|
| Maturity | Type | Coupon | Yield
|
| 2049 | Term | 10% | 10%
|
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