By Sheri Kasprzak
New York, March 15 - The City of Lubbock, Texas, priced $144.43 million of series 2011 general obligation bonds and revenue certificates of obligation (Aa2/AA+/AA+), according to a pricing sheet.
The sale included $13.53 million of series 2011 G.O. bonds, $16.245 million of series 2011 G.O. refunding bonds and $114.655 million of series 2011 tax and waterworks system revenue certificates of obligation.
The 2011 G.O. bonds are due 2012 to 2031 with 3% to 4.875% coupons.
The 2011 G.O. refunding bonds are due 2012 to 2022 with 2% to 5% coupons.
The 2011 revenue certificates of obligation are due 2012 to 2031 with 3% to 5% coupons.
Morgan Keegan & Co. Inc. was the senior manager. The co-managers were FirstSouthwest Co. and Oppenheimer & Co. Inc.
Proceeds will be used to refund debt and to finance public safety, street and water, sewer and storm utilities improvements.
| Issuer: | Lubbock, Texas
|
| Issue: | Series 2011 general obligation bonds/revenue certificates of obligation
|
| Amount: | $144.43 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. (lead), FirstSouthwest Co. and Oppenheimer & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | March 15
|
|
|
| $13.53 million series 2011 G.O. bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 102.011
|
| 2013 | Serial | 3% | 103.901
|
| 2014 | Serial | 3% | 104.926
|
| 2015 | Serial | 3% | 104.737
|
| 2016 | Serial | 3% | 104.591
|
| 2017 | Serial | 3% | 103.693
|
| 2018 | Serial | 3% | 102.427
|
| 2019 | Serial | 3% | 101.045
|
| 2020 | Serial | 3.25% | 101.149
|
| 2021 | Serial | 3.5% | 101.413
|
| 2022 | Serial | 3.5% | 99.105
|
| 2023 | Serial | 3.75% | 99.052
|
| 2024 | Serial | 4.25% | NRO
|
| 2025 | Serial | 4.375% | NRO
|
| 2026 | Serial | 4.5% | NRO
|
| 2027 | Serial | 4.5% | NRO
|
| 2028 | Serial | 4.625% | NRO
|
| 2029 | Serial | 4.75% | NRO
|
| 2030 | Serial | 4.75% | NRO
|
| 2031 | Serial | 4.875% | NRO
|
|
|
| $16.245 million series 2011 G.O. refunding bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 102.011
|
| 2013 | Serial | 3% | 103.901
|
| 2014 | Serial | 2% | 102.143
|
| 2015 | Serial | 5% | 112.18
|
| 2016 | Serial | 4% | 109.086
|
| 2017 | Serial | 2.5% | 101.085
|
| 2018 | Serial | 3% | 102.553
|
| 2019 | Serial | 3% | 101.185
|
| 2020 | Serial | 3.25% | 101.304
|
| 2021 | Serial | 3.5% | 101.497
|
| 2022 | Serial | 3.5% | 99.105
|
|
|
| $114.655 million series 2011 certificates of obligation
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 102.139
|
| 2013 | Serial | 4% | 105.78
|
| 2014 | Serial | 4% | 107.798
|
| 2015 | Serial | 5% | 112.259
|
| 2016 | Serial | 5% | 113.924
|
| 2017 | Serial | 3.5% | 106.578
|
| 2017 | Serial | 5% | 114.735
|
| 2018 | Serial | 5% | 115.017
|
| 2019 | Serial | 4% | 108.173
|
| 2020 | Serial | 4% | 106.91
|
| 2021 | Serial | 5% | 114.182
|
| 2022 | Serial | 5% | NRO
|
| 2023 | Serial | 5% | NRO
|
| 2024 | Serial | 5% | NRO
|
| 2025 | Serial | 5% | NRO
|
| 2026 | Serial | 5% | NRO
|
| 2027 | Serial | 5% | NRO
|
| 2028 | Serial | 5% | NRO
|
| 2029 | Serial | 5% | NRO
|
| 2030 | Serial | 5% | NRO
|
| 2031 | Serial | 5% | NRO
|
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