Published on 3/18/2014 in the Prospect News Municipals Daily.
New Issue: Oklahoma City prices $92.19 million of general obligation bonds
By Sheri Kasprzak
New York, March 18 - The City of Oklahoma City priced $92,185,000 of series 2014 general obligation bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold competitively. BofA Merrill Lynch won the bid at a 2.962067% true interest cost, said Kenton Tsoodle, assistant finance director for the city.
The bonds are due 2016 to 2034 with 2% to 5% coupons with 0.22% to 3.6% yields.
Proceeds will be used to finance the construction of streets, bridges, traffic control systems, drainage control systems, parks and recreational facilities, new fire facilities, new police facilities and city maintenance facilities.
| Issuer: | Oklahoma City
|
| Issue: | Series 2014 general obligation bonds
|
| Amount: | $92,185,000
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| True interest cost: | 2.962067%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | March 18
|
| Settlement date: | May 8
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4,855,000 | 2016 | Serial | 2% | 103.22 | 0.22%
|
| $4,855,000 | 2017 | Serial | 3% | 107.18 | 0.43%
|
| $4,855,000 | 2018 | Serial | 3% | 108.561 | 0.72%
|
| $4,855,000 | 2019 | Serial | 4% | 113.962 | 1.02%
|
| $4,855,000 | 2020 | Serial | 4% | 114.467 | 1.40%
|
| $4,855,000 | 2021 | Serial | 4% | 114.322 | 1.76%
|
| $4,855,000 | 2022 | Serial | 5% | 121.196 | 2.05%
|
| $4,855,000 | 2023 | Serial | 5% | 121.961 | 2.34%
|
| $4,855,000 | 2024 | Serial | 5% | 122.806 | 2.38%
|
| $4,855,000 | 2025 | Serial | 3% | 102.048 | 2.76%
|
| $4,855,000 | 2026 | Serial | 3% | 100.505 | 2.94%
|
| $4,855,000 | 2027 | Serial | 3% | 98.946 | 3.10%
|
| $4,855,000 | 2028 | Serial | 3.25% | 99.886 | 3.26%
|
| $4,855,000 | 2029 | Serial | 4% | 106.601 | 3.21%
|
| $4,855,000 | 2030 | Serial | 4% | 105.737 | 3.31%
|
| $4,855,000 | 2031 | Serial | 4% | 104.967 | 3.40%
|
| $4,855,000 | 2032 | Serial | 4% | 104.287 | 3.48%
|
| $4,855,000 | 2033 | Serial | 4% | 103.697 | 3.55%
|
| $4,795,000 | 2034 | Serial | 4% | 103.278 | 3.60%
|
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