By Cristal Cody
Springdale, Ark., May 7 - Olathe, Kan., priced $86.5 million bonds and temporary notes with net and true interest costs of 1.99% to 3.95%, the issuer said Wednesday.
The $37 million series 211 general obligation bonds (Aa2) priced with a 3.947% true interest cost submitted by winning bidder Prager, Sealy & Co. in the competitive sale, accounting manager Maureen Rogers said.
The bonds priced with 4% to 5% coupons.
The bonds have serial maturities from 2009 through 2028.
The $49.5 million series 2008A general obligation temporary notes (MIG 1) priced with a 1.986% net interest cost.
The short-term notes are due June 1, 2009 and priced with a 2.75% coupon, Rogers said.
Citigroup Global Markets was the successful bidder in the sale.
The yields on the bonds and notes were not available.
Proceeds will provide financing for more than 50 capital improvement projects in the city, including street improvements and a railway track project.
| Issuer: | Olathe, Kan.
|
| Issue: | General obligation temporary notes
|
| Amount: | $49.5 million
|
| Type: | Competitive
|
| Net interest cost: | 1.986%
|
| Coupon: | 2.75%
|
| Maturity: | June 1, 2009
|
| Underwriter: | Citigroup Global Markets
|
| Ratings: | Moody's: MIG 1
|
| Pricing date: | May 6
|
|
|
| Issue: | General obligation bonds
|
| Amount: | $37 million
|
| Type: | Competitive
|
| True interest cost: | 3.947%
|
| Maturities: | 2009 to 2028
|
| Underwriter: | Prager, Sealy & Co.
|
| Ratings: | Moody's: Aa2
|
| Pricing date: | May 6
|
|
|
| Maturity | Coupon
|
| 2009 | 5%
|
| 2010 | 5%
|
| 2011 | 5%
|
| 2012 | 5%
|
| 2013 | 5%
|
| 2014 | 5%
|
| 2015 | 5%
|
| 2016 | 5%
|
| 2017 | 5%
|
| 2018 | 4%
|
| 2019 | 4%
|
| 2020 | 4%
|
| 2021 | 4.25%
|
| 2022 | 4.25%
|
| 2023 | 4.375%
|
| 2024 | 4.375%
|
| 2025 | 4.5%
|
| 2026 | 4.5%
|
| 2027 | 4.5%
|
| 2028 | 4.5%
|
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