Published on 1/13/2015 in the Prospect News Municipals Daily.
New Issue: Spokane, Wash., brings to market $55.74 million general obligation debt
By Sheri Kasprzak
New York, Jan. 13 – The City of Spokane, Wash., priced $55,735,000 of series 2015 unlimited tax general obligation bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold competitively, but the issuer did not return calls for the winning bidder Tuesday.
The bonds are due 2021 to 2034 with 3% to 5% coupons and 1.65% to 3.1% yields.
Proceeds will be used to finance improvements to the city’s Riverfront Park.
| Issuer: | City of Spokane, Wash.
|
| Issue: | Series 2015 unlimited tax general obligation bonds
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| Amount: | $55,735,000
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| Type: | Competitive
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| Ratings: | Moody’s: Aa2
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| Standard & Poor’s: AA
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 27
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $95,000 | 2021 | Serial | 5% | 121.595 | 1.65%
|
| $325,000 | 2022 | Serial | 5% | 123.392 | 1.79%
|
| $500,000 | 2023 | Serial | 5% | 125.403 | 1.87%
|
| $765,000 | 2024 | Serial | 5% | 126.684 | 2.00%
|
| $1,055,000 | 2025 | Serial | 3% | 106.133 | 2.30%
|
| $1.35 million | 2026 | Serial | 4% | 114.234 | 2.37%
|
| $1,675,000 | 2027 | Serial | 4% | 113.015 | 2.50%
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| $5.45 million | 2028 | Serial | 4% | 111.903 | 2.62%
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| $5,965,000 | 2029 | Serial | 4% | 111.169 | 2.70%
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| $6.51 million | 2030 | Serial | 4% | 110.169 | 2.81%
|
| $7.09 million | 2031 | Serial | 4% | 109.358 | 2.90%
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| $7,705,000 | 2032 | Serial | 3% | 98.634 | 3.10%
|
| $8.28 million | 2033 | Serial | 4% | 109.09 | 2.93%
|
| $8.97 million | 2034 | Serial | 4% | 108.733 | 2.97%
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