Published on 7/15/2015 in the Prospect News Municipals Daily.
New Issue: El Paso, Texas, prices $116.42 million of G.O. and improvement bonds
By Sheri Kasprzak
New York, July 15 – The City of El Paso, Texas, sold $116,415,000 of series 2015 general obligation refunding and improvement bonds, according to a pricing sheet.
The bonds (/AA/AA) were sold through Citigroup Global Markets Inc.
The bonds are due 2019 to 2035 with a term bond due in 2041. The serial coupons range from 3.625% to 5% with yields from 1.43% to 3.95%. The 2041 bonds have a 4% coupon priced at 97.472 to yield 4.16%.
Proceeds will be used to acquire, construct, renovate and equip new and existing park, recreation, open space and zoo facilities; acquire land and rights-of-way; acquire and install public art; construct, improve, renovate and equip new and existing library, museum, cultural and performing arts facilities; and refund the city’s series 2007 G.O. refunding bonds, series 2007A G.O. bonds, series 2007 combination tax and revenue certificates of obligation and series 2008 G.O. bonds.
| Issuer: | City of El Paso, Texas
|
| Issue: | Series 2015 general obligation refunding and improvement bonds
|
| Amount: | $116,415,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | July 15
|
| Settlement date: | Aug. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $845,000 | 2019 | Serial | 5% | 113.812 | 1.43%
|
| $9.58 million | 2020 | Serial | 5% | 115.685 | 1.71%
|
| $10,065,000 | 2021 | Serial | 5% | 116.621 | 2.04%
|
| $10.56 million | 2022 | Serial | 5% | 116.929 | 2.36%
|
| $11.11 million | 2023 | Serial | 5% | 117.696 | 2.54%
|
| $11,655,000 | 2024 | Serial | 5% | 118.082 | 2.72%
|
| $12.26 million | 2025 | Serial | 5% | 118.393 | 2.87%
|
| $8.87 million | 2026 | Serial | 5% | 116.877 | 3.03%
|
| $9,315,000 | 2027 | Serial | 5% | 115.942 | 3.13%
|
| $3,795,000 | 2028 | Serial | 5% | 115.016 | 3.23%
|
| $3.98 million | 2029 | Serial | 5% | 114.098 | 3.33%
|
| $4.18 million | 2030 | Serial | 5% | 113.461 | 3.40%
|
| $1,515,000 | 2031 | Serial | 3.625% | 98.152 | 3.78%
|
| $1.57 million | 2032 | Serial | 3.625% | 97.456 | 3.83%
|
| $1,625,000 | 2033 | Serial | 3.75% | 98.454 | 3.87%
|
| $1.69 million | 2034 | Serial | 3.75% | 97.868 | 3.91%
|
| $1.75 million | 2035 | Serial | 3.75% | 97.252 | 3.95%
|
| $12.05 million | 2041 | Term | 4% | 97.472 | 4.16%
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
