By Sheri Kasprzak
New York, Nov. 2 - The City of Houston priced $47.125 million of series 2011F combined utility system revenue refunding bonds on Wednesday, downsized from $50 million, according to a pricing sheet.
The bonds (/AA/AA) were sold through Estrada Hinojosa & Co. Inc. with Loop Capital Markets LLC as the co-manager.
The bonds are due 2028 to 2033 with 4% to 5% coupons.
Proceeds will be used to refund the city's series 2008D-3 combined utility system revenue refunding bonds.
| Issuer: | City of Houston
|
| Issue: | Series 2011F combined utility system revenue refunding bonds
|
| Amount: | $47.125 million
|
| Type: | Negotiated
|
| Underwriters: | Estrada Hinojosa & Co. Inc. (lead), Loop Capital Markets LLC (co-manager)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Nov. 2
|
| Settlement date: | Dec. 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.855 million | 2028 | Serial | 5% | 110.304
|
| $7.4 million | 2029 | Serial | 4% | 97.74
|
| $8.02 million | 2030 | Serial | 5% | 108.486
|
| $8.42 million | 2031 | Serial | 5% | 107.888
|
| $8.425 million | 2032 | Serial | 5% | 107.294
|
| $9.005 million | 2033 | Serial | 5% | 106.872
|
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