By Cristal Cody
Springdale, Ark., March 26 - Oklahoma City priced $67.56 million of general obligation and limited tax general obligation bonds (Aa1/AA+/) with 4.33% to 5.4% true interest costs, the issuer said Wednesday.
The $60.56 million series 2008 general obligation bonds priced Tuesday with a 4.327% true interest cost, said Kenton Tsoodle, city finance business manager.
The bonds priced in a competitive sale with 4% to 5% coupons to yield 2.4% to 4.95%.
Merrill Lynch & Co. was the successful bidder.
The $7 million series 2008 limited tax general obligation bonds priced with a 5.401% true interest cost.
The bonds priced with 5% to 6% coupons to yield 3.5% to 6.07%.
Griffin, Kubik, Stephens & Thompson Inc. won the bidding.
Both series have maturities from 2010 to 2028.
Proceeds will be used for street, bridge and traffic-control systems, drainage control, park and recreational facilities, fire facilities, police facilities, transit facilities and economic development.
| Issuer: | Oklahoma City
|
| Issue: | General obligation and limited tax general obligation bonds
|
| Amount: | $67.56 million
|
| Type: | Competitive
|
| Maturities: | 2010 to 2028
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | March 25
|
|
|
| Series 2008 bonds
|
| Amount: | $60.56 million
|
| True interest cost: | 4.327%
|
| Coupons: | 4% to 5%
|
| Yields: | 2.4% to 4.95%
|
| Underwriter: | Merrill Lynch & Co.
|
|
|
| Series 2008 taxable bonds
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| Amount: | $7 million
|
| True interest cost: | 5.401%
|
| Coupons: | 5% to 6%
|
| Yields: | 3.5% to 6.07%
|
| Underwriter: | Griffin, Kubik, Stephens & Thompson Inc.
|
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