Published on 6/4/2014 in the Prospect News Municipals Daily.
New Issue: Long Beach, Calif., brings $325 million harbor revenue short-term notes
By Sheri Kasprzak
New York, June 4 - The City of Long Beach, Calif., priced $325 million of series 2014C harbor revenue short-term notes, said a pricing sheet.
The notes (/AA/AA) were sold through Citigroup Global Markets Inc. and Goldman, Sachs & Co.
The notes are due Nov. 15, 2018 and have a 3% coupon priced at 108.59 to yield 1.01%, a 4% coupon priced at 112.906 to yield 1.01% and a 5% coupon priced at 117.223 to yield 1.01%.
Proceeds will be used to finance or refinance the costs of the reconstruction of the Gerald Desmond Bridge.
| Issuer: | Long Beach, Calif.
|
| Issue: | Series 2014C harbor revenue short-term notes
|
| Amount: | $325 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | June 4
|
| Settlement date: | June 12
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| Nov. 15, 2018 | Term | 3% | 108.59 | 1.01%
|
| Nov. 15, 2018 | Term | 4% | 112.906 | 1.01%
|
| Nov. 15, 2018 | Term | 5% | 117.223 | 1.01%
|
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