Published on 3/26/2015 in the Prospect News Municipals Daily.
New Issue: Elizabeth, N.J., sells $50.24 million G.O. bonds and BANs
By Sheri Kasprzak
New York, March 26 – The City of Elizabeth, N.J., sold $50,238,000 of series 2015 general obligation bonds and bond anticipation notes, according to a pricing sheet.
The offering included $36,575,000 of series 2015 G.O. bonds, $12,238,000 of series 2015 BANs and $1.4 million of series 2015 taxable special emergency notes.
The G.O. bonds are due 2016 to 2030 with 2% to 3% coupons and 0.45% to 3.2% yields. The BANs are due April 8, 2016 and have a 1.25% coupon priced at 100.984 to yield 0.26%, and the special emergency notes are due April 8, 2016 with a 1.25% coupon priced at 100.744 to yield 0.5%.
The bonds and notes were sold competitively.
Proceeds will be used to refund outstanding bonds and notes.
| Issuer: | City of Elizabeth, N.J.
|
| Issue: | Series 2015 general obligation bonds and bond anticipation notes
|
| Amount: | $50,238,000
|
| Type: | Competitive
|
| Pricing date: | March 26
|
| Settlement date: | April 9
|
|
|
| $36,575,000 series 2015 general obligation bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.16 million | 2016 | Serial | 2% | 101.51 | 0.45%
|
| $2.15 million | 2017 | Serial | 2.25% | 102.739 | 0.85%
|
| $2,175,000 | 2018 | Serial | 2.5% | 103.94 | 1.15%
|
| $2,205,000 | 2019 | Serial | 2.5% | 104.044 | 1.45%
|
| $2,235,000 | 2020 | Serial | 2.5% | 103.802 | 1.70%
|
| $2.28 million | 2021 | Serial | 2.5% | 103.375 | 1.90%
|
| $2,325,000 | 2022 | Serial | 2.5% | 102.583 | 2.10%
|
| $2.38 million | 2023 | Serial | 2.5% | 101.449 | 2.30%
|
| $2,445,000 | 2024 | Serial | 3% | 104.407 | 2.45%
|
| $2.51 million | 2025 | Serial | 3% | 103.941 | 2.55%
|
| $2.58 million | 2026 | Serial | 3% | 102.168 | 2.75%
|
| $2,655,000 | 2027 | Serial | 3% | 100.86 | 2.90%
|
| $2,735,000 | 2028 | Serial | 3% | 100 | 3.00%
|
| $2,825,000 | 2029 | Serial | 3% | 98.536 | 3.13%
|
| $2,915,000 | 2030 | Serial | 3% | 97.634 | 3.20%
|
|
|
| $12,263,000 series 2015 bond anticipation notes
|
| Maturity | Type | Coupon | Price | Yield
|
| April 8, 2016 | Term | 1.25% | 100.984 | 0.26%
|
|
|
| $1.4 million series 2015 taxable special emergency notes
|
| Maturity | Type | Coupon | Price | Yield
|
| April 8, 2016 | Term | 1.25% | 100.744 | 0.50%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
