Published on 4/23/2013 in the Prospect News Municipals Daily.
New Issue: Tacoma, Wash., prices $78.31 million of water system bonds
By Sheri Kasprzak
New York, April 23 - The City of Tacoma, Wash., sold $78,305,000 of series 2013 water system revenue and refunding bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold competitively.
The bonds are due 2013 to 2014 with term bonds due in 2041 and 2043. The serial bonds have 2% coupons. The 2041 bonds have a 4% coupon priced at 103.35, and the 2043 bonds have a 4% coupon priced at 102.924.
Proceeds will be used to make capital improvements to the city's water system and to refund its series 2003 water system revenue bonds.
| Issuer: | City of Tacoma, Wash.
|
| Issue: | Series 2013 water system revenue and refunding bonds
|
| Amount: | $78,305,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | April 23
|
| Settlement date: | May 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.97 million | 2013 | Serial | 2% | 101.018
|
| $980,000 | 2014 | Serial | 2% | 102.575
|
| $23.82 million | 2041 | Term | 4% | 103.35
|
| $50,535,000 | 2043 | Term | 4% | 102.924
|
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