New Issue: Pittsburg Redevelopment, Calif., sells $67.45 million of refunding TABs

By Sheri Kasprzak

New York, June 19 – The Pittsburg Redevelopment Successor Agency of California sold $67,445,000 of series 2014 tax allocation refunding bonds for Los Medanos Community Development, according to a pricing sheet.

The bonds (/A/A) were sold through Stifel, Nicolaus & Co. and Stinson Securities LLC.

The bonds are due 2015 to 2029 with 4% to 5% coupons and 0.41% to 3.68% yields.

Proceeds will be used to refund the agency’s series 1999 and 2003 tax allocation bonds.

Issuer:	Pittsburg Redevelopment Successor Agency/Los Medanos Community Development
Issue:	Series 2014 tax allocation refunding bonds
Amount:	$67,445,000
Type:	Negotiated
Underwriters:	Stifel, Nicolaus & Co. and Stinson Securities LLC
Ratings:	Standard & Poor’s: A
	Fitch: A
Pricing date:	June 18
Settlement date:	June 26
Amount	Maturity	Type	Coupon	Price	Yield
$2,645,000	2015	Serial	4%	103.925	0.41%
$7.96 million	2016	Serial	4%	107.096	0.59%
$9,145,000	2017	Serial	5%	112.363	0.94%
$8,735,000	2018	Serial	5%	114.629	1.32%
$5,755,000	2019	Serial	5%	116.045	1.70%
$1 million	2020	Serial	4%	111.121	2.05%
$5.04 million	2020	Serial	5%	116.825	2.05%
$6,335,000	2021	Serial	5%	117.37	2.33%
$3,045,000	2022	Serial	5%	117.659	2.57%
$2.34 million	2023	Serial	5%	117.557	2.80%
$2.45 million	2024	Serial	5%	117.594	2.97%
$2,575,000	2025	Serial	5%	115.517	3.19%
$2,705,000	2026	Serial	5%	114.125	3.34%
$2,445,000	2027	Serial	5%	112.572	3.51%
$2.57 million	2028	Serial	5%	111.76	3.60%
$2.7 million	2029	Serial	5%	111.045	3.68%

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