Published on 10/24/2012 in the Prospect News Municipals Daily.
New Issue: El Paso, Texas, prices $79.44 million of certificates and G.O. refunding bonds
By Sheri Kasprzak
New York, Oct. 24 - The City of El Paso, Texas, came to market with $79.44 million of series 2012 certificates of obligation and general obligation refunding bonds, said a pricing sheet.
The offering included $58.73 million of series 2012 combination tax and revenue certificates of obligation and $20.71 million of series 2012 G.O. refunding bonds.
The 2012 certificates are due 2016 to 2033 with a term bond due in 2038. The serial coupons range from 3% to 4%. The 2038 bonds have a 3.375% coupon priced at 97.059.
The 2012 G.O. refunding bonds are due 2014 to 2028 with coupons from 2% to 4%.
The bonds (/AA/AA) will be sold through RBC Capital Markets LLC.
Proceeds will be used to finance various public improvements and refund existing city debt.
| Issuer: | City of El Paso
|
| Issue: | Series 2012 certificates of obligation and general obligation refunding bonds
|
| Amount: | $79.44 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Oct. 24
|
| Settlement date: | Nov. 20
|
|
|
| $58.73 million series 2012 combination tax and revenue certificates of obligation
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,585,000 | 2016 | Serial | 3% | 108.273
|
| $3,695,000 | 2017 | Serial | 3% | 109.47
|
| $3,805,000 | 2018 | Serial | 3% | 110.181
|
| $3.92 million | 2019 | Serial | 3% | 109.911
|
| $4.04 million | 2020 | Serial | 3% | 109.005
|
| $4.16 million | 2021 | Serial | 4% | 115.695
|
| $4,325,000 | 2022 | Serial | 4% | 115.127
|
| $4,495,000 | 2023 | Serial | 4% | 113.258
|
| $1.36 million | 2024 | Serial | 4% | 112.336
|
| $1,405,000 | 2025 | Serial | 4% | 111.697
|
| $1.47 million | 2026 | Serial | 4% | 111.061
|
| $1,525,000 | 2027 | Serial | 4% | 110.52
|
| $1.58 million | 2028 | Serial | 4% | 109.981
|
| $1,645,000 | 2029 | Serial | 4% | 109.446
|
| $1.72 million | 2030 | Serial | 3% | 98.775
|
| $1,765,000 | 2031 | Serial | 3% | 97.886
|
| $1.82 million | 2032 | Serial | 4% | 107.859
|
| $1,895,000 | 2033 | Serial | 4% | 107.249
|
| $10.52 million | 2038 | Term | 3.375% | 97.059
|
|
|
| $20.71 million G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.17 million | 2014 | Serial | 2% | 102.589
|
| $1.2 million | 2016 | Serial | 3% | 108.273
|
| $1.24 million | 2017 | Serial | 3% | 109.47
|
| $1,285,000 | 2018 | Serial | 3% | 110.181
|
| $1.33 million | 2019 | Serial | 3% | 109.911
|
| $1,375,000 | 2020 | Serial | 3% | 109.005
|
| $1.42 million | 2021 | Serial | 3% | 107.727
|
| $1,475,000 | 2022 | Serial | 3% | 106.432
|
| $1.53 million | 2023 | Serial | 4% | 113.258
|
| $1.59 million | 2024 | Serial | 4% | 112.336
|
| $1.66 million | 2025 | Serial | 4% | 111.697
|
| $1.73 million | 2026 | Serial | 4% | 111.061
|
| $1,815,000 | 2027 | Serial | 4% | 110.52
|
| $1.89 million | 2028 | Serial | 4% | 109.981
|
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