Published on 10/12/2012 in the Prospect News Municipals Daily.
New Issue: New Orleans prices $195.89 million of refunding bonds
By Sheri Kasprzak
New York, Oct. 12 - The City of New Orleans sold $195,885,000 of series 2012 taxable limited tax refunding bonds, according to a pricing sheet.
The bonds (A3/A/) were sold through Raymond James/Morgan Keegan and J.P. Morgan Securities LLC.
The bonds are due 2015 to 2027 with a term bond due in 2030. The serial coupons range from 1.399% to 4.592%. The 2030 bonds have a 4.961% coupon priced at par.
Proceeds will be used to refund the city's series 2000 revenue bonds initially issued at the weekly rate mode.
| Issuer: | City of New Orleans
|
| Issue: | Series 2012 taxable limited tax refunding bonds
|
| Amount: | $195,885,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and J.P. Morgan Securities LLC (lead)
|
| Ratings | Moody's A3
|
| Standard & Poor's A
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $9,775,000 | 2015 | Serial | 1.399% | 100
|
| $9.91 million | 2016 | Serial | 1.823% | 100
|
| $10.09 million | 2017 | Serial | 2.123% | 100
|
| $10,305,000 | 2018 | Serial | 2.4% | 99.456
|
| $10,555,000 | 2019 | Serial | 2.8% | 99.38
|
| $10.85 million | 2020 | Serial | 3.142% | 99.308
|
| $11.19 million | 2021 | Serial | 3.392% | 99.24
|
| $11.57 million | 2022 | Serial | 3.692% | 100
|
| $11,995,000 | 2023 | Serial | 3.892% | 100
|
| $12,465,000 | 2024 | Serial | 4.092% | 100
|
| $12,975,000 | 2025 | Serial | 4.242% | 100
|
| $13,525,000 | 2026 | Serial | 4.442% | 100
|
| $14,125,000 | 2027 | Serial | 4.592% | 100
|
| $46,555,000 | 2030 | Term | 4.961% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
