By Sheri Kasprzak
New York, Oct. 30 - The City of Chandler, Ariz., released additional details on its $104.5 million sale of series 2013 excise tax revenue obligations, according to a pricing sheet. The deal size was cut from $110 million.
The bonds (Aa1/AAA/AAA) were sold competitively. Barclays won the bid at a 3.590717% true interest cost, said Dawn Lang, management services director for the city.
The bonds are due 2015 to 2033 with 4% to 5% coupons and 0.30% to 4.17% yields.
Proceeds will be used to finance capital improvements within the city, including water and wastewater system improvements.
| Issuer: | City of Chandler, Ariz.
|
| Issue: | Series 2013 excise tax revenue obligations
|
| Amount: | $104.5 million
|
| Type: | Competitive
|
| Underwriter | Barclays
|
| TIC | 3.590717%
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $500,000 | 2015 | Serial | 5% | 107.651 | 0.30%
|
| $750,000 | 2016 | Serial | 5% | 111.757 | 0.50%
|
| $1.5 million | 2017 | Serial | 5% | 115.009 | 0.80%
|
| $1.6 million | 2018 | Serial | 5% | 117.767 | 1.06%
|
| $2.75 million | 2019 | Serial | 5% | 119.075 | 1.46%
|
| $3.1 million | 2020 | Serial | 5% | 119.991 | 1.79%
|
| $3.5 million | 2021 | Serial | 5% | 120.509 | 2.08%
|
| $3.8 million | 2022 | Serial | 5% | 121.204 | 2.28%
|
| $3.9 million | 2023 | Serial | 5% | 121.76 | 2.45%
|
| $4.5 million | 2024 | Serial | 5% | 120.143 | 2.62%
|
| $4.7 million | 2025 | Serial | 5% | 118.738 | 2.77%
|
| $5 million | 2026 | Serial | 5% | 117.169 | 2.94%
|
| $5 million | 2027 | Serial | 5% | 115.625 | 3.11%
|
| $4.9 million | 2028 | Serial | 5% | 114.371 | 3.25%
|
| $11.5 million | 2029 | Serial | 4% | 101.839 | 3.77%
|
| $11.5 million | 2030 | Serial | 4% | 100.473 | 3.94%
|
| $12 million | 2031 | Serial | 4% | 99.745 | 4.02%
|
| $12 million | 2032 | Serial | 4% | 98.573 | 4.11%
|
| $12 million | 2033 | Serial | 4.125% | 99.396 | 4.17%
|
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