By Sheri Kasprzak
New York, March 23 - The city of St. Louis, Mo., sold $121.26 million in series 2010 special obligation bonds on Tuesday, according to pricing sheets.
The sale included $63.125 million in series 2010A tax-exempt bonds and $58.135 million in series 2010B Build America Bonds. The 2010A bonds are due 2012 to 2026 and the 2010B bonds are due 2026 and 2035.
The bonds (Aa1/AA+/) were sold competitively. Jefferies & Co. won the tax-exempt bonds with a 3.242199% true interest cost and Morgan Keegan & Co. Inc. won the Build America Bonds with a 5.587091% true interest cost. Excluding the subsidy, the true interest cost for the BABs came at 3.660102% TIC.
Proceeds will be used to fund improvements to the city's emergency communications system.
| Issuer: | St. Louis
|
| Issue: | Series 2010 special obligation bonds
|
| Amount: | $121.26 million
|
| Type: | Competitive
|
| Underwriters: | Jefferies & Co. (winner for 2010A); Morgan Keegan & Co. Inc. (winner for 2010B)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | March 23
|
|
|
| Series 2010A
|
| Amount: | $63.125 million
|
| Maturities: | 2012 to 2026
|
| True interest cost: | 3.242199%
|
|
|
| Series 2010B
|
| Amount: | $58.135 million
|
| Maturities: | 2026 and 2035
|
| True interest cost: | 5.587091%
|
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