By Sheri Kasprzak
New York, Nov. 10 - The City of Gainesville, Fla., priced $161.74 million of series 2010 utility system revenue bonds, said a pricing sheet.
The bonds (Aa2) were sold on Wednesday through Goldman, Sachs & Co., with Barclays Capital Inc., Jefferies & Co. and J.P. Morgan Securities LLC as the co-managers.
The sale included $12.93 million of series 2010A federally taxable bonds, $132.445 million of series 2010B Build America Bonds and $16.365 million of series 2010C tax-exempt bonds.
The 2010A bonds are due Oct. 1, 2030 and have a 5.874% coupon priced, and the 2010B bonds are due Oct. 1, 2040 and have a 6.024% coupon priced at par. The 2010C bonds are due 2015 to 2019 with a term bond due 2034. The serial bonds all have 5% coupons. The 2034 bonds have a 5.25% coupon priced at 109.043.
Proceeds will be used to finance capital improvements to the city's utility system as well as to refund its series 2003A and 2008A bonds.
| Issuer: | Gainesville, Fla.
|
| Issue: | Series 2010 utility system revenue bonds
|
| Amount: | $161.74 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), Barclays Capital Inc., Jefferies & Co. and J.P. Morgan Securities LLC (co-managers)
|
| Rating: | Moody's: Aa2
|
| Pricing date: | Nov. 10
|
| Settlement date: | Nov. 23
|
|
|
| Series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $12.93 million | 2030 | Term | 5.874% | 100
|
|
|
| Series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $132.445 million 2040 | Term | 6.024% | 100
|
|
|
| Series 2010C
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.06 million | 2015 | Serial | 5% | 114.962
|
| $1.11 million | 2016 | Serial | 5% | 115.897
|
| $1.17 million | 2017 | Serial | 5% | 116.136
|
| $1.23 million | 2018 | Serial | 5% | 115.566
|
| $1.29 million | 2019 | Serial | 5% | 115.029
|
| $10.505 million | 2034 | Term | 5.25% | 109.043
|
© 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.
