Kansas City, Mo., offers $332.86 million special obligation bonds

By Cristal Cody

Eureka Springs, Ark., March 30 – The city of Kansas City, Mo., plans to price a five-part $332.86 million offering of special obligation bonds (A1/AA-), according to a preliminary official statement.

The deal includes $60.51 million of series 2016A Kansas City, Mo., projects special obligation bonds, $33,695,000 of series 2016B Kansas City, Mo., projects taxable special obligation bonds, $31,335,000 of series 2016C Kansas City, Mo., projects special obligation refunding bonds, $25.16 million of series 2016D East Village project special obligation refunding bonds and $182.16 million of series 2016E downtown arena project special obligation improvement and refunding bonds.

The series 2016A and series 2016B bonds have serial maturities from Oct. 1, 2016 through Oct. 1, 2035.

The series 2016C bonds have serial maturities from Oct. 1, 2016 through Oct. 1, 2027.

The series 2016D bonds are due from April 15, 2017 through April 15, 2031.

The series 2016E bonds have serial maturities from April 1, 2017 through April 1, 2040.

Citigroup Global Markets Inc. is the bookrunner of the negotiated sale. The co-managers are Valdes & Moreno, Inc., Stifel, Nicolaus & Co., Inc., D.A. Davidson & Co., Stern Brothers & Co. and Ameritas Investment Corp.

Proceeds will be used to acquire, construct, reconstruct and improve city projects, refund a portion of the outstanding series 2006A Kansa City municipal assistance corporation leasehold refunding and improvement revenue bonds and to advance refund all of the outstanding series 2008A special obligation improvement and refunding bonds, the outstanding series 2008B special obligation bonds and the outstanding series 2008C special obligation refunding bonds.

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