Published on 6/13/2012 in the Prospect News Municipals Daily.
New Issue: District of Columbia prices $52.37 million Gallery Place revenue bonds
By Sheri Kasprzak
New York, June 13 - The District of Columbia sold $52,365,000 of series 2012 tax increment revenue refunding bonds for the Gallery Place Project, according to an official statement.
The bonds (A1/A-/A+) were sold through lead managers TD Securities LLC and Goldman, Sachs & Co. The co-managers were Fidelity Capital Markets Inc. and M.R. Beal & Co.
The bonds are due 2013 to 2031 with 3% to 5% coupons and yields from 0.75% to 3.96%.
Proceeds will be used to finance capital improvements to the Gallery Place-Chinatown subway station in Washington, D.C.
| Issuer: | District of Columbia/Gallery Place Project
|
| Issue: | Series 2012 tax increment revenue refunding bonds
|
| Amount: | $52,365,000
|
| Type: | Negotiated
|
| Underwriters: | TD Securities LLC and Goldman, Sachs & Co. (lead), Fidelity Capital Markets Inc. and M.R. Beal & Co. (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Pricing date: | June 7
|
| Settlement date: | June 21
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.91 million | 2013 | Serial | 3% | 102.113 | 0.75%
|
| $1,825,000 | 2014 | Serial | 4% | 105.662 | 1.05%
|
| $1.9 million | 2015 | Serial | 4% | 107.593 | 1.36%
|
| $1,975,000 | 2016 | Serial | 5% | 113.150 | 1.55%
|
| $2,075,000 | 2017 | Serial | 5% | 114.868 | 1.84%
|
| $2.18 million | 2018 | Serial | 5% | 116.429 | 2.05%
|
| $2.29 million | 2019 | Serial | 5% | 117.306 | 2.29%
|
| $2.4 million | 2020 | Serial | 5% | 117.046 | 2.61%
|
| $2.52 million | 2021 | Serial | 5% | 117.040 | 2.83%
|
| $5,645,000 | 2022 | Serial | 5% | 115.331 | 3.03%
|
| $2.78 million | 2023 | Serial | 5% | 113.653 | 3.23%
|
| $2.92 million | 2024 | Serial | 5% | 112.003 | 3.43%
|
| $3,065,000 | 2025 | Serial | 5% | 111.026 | 3.55%
|
| $3,215,000 | 2026 | Serial | 5% | 110.462 | 3.62%
|
| $3.38 million | 2027 | Serial | 5% | 109.820 | 3.70%
|
| $3,545,000 | 2028 | Serial | 5% | 109.422 | 3.75%
|
| $3,725,000 | 2029 | Serial | 5% | 108.867 | 3.82%
|
| $3.91 million | 2030 | Serial | 5% | 108.315 | 3.89%
|
| $4,105,000 | 2031 | Serial | 5% | 107.766 | 3.96%
|
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