Published on 3/16/2012 in the Prospect News Municipals Daily.
New Issue: Charlotte, N.C., brings $175.5 million of G.O. refunding bonds
By Sheri Kasprzak
New York, March 16 - The City of Charlotte, N.C., sold $175,495,000 of series 2012A general obligation refunding bonds, said a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold through Wells Fargo Securities LLC and Bank of America Merrill Lynch. The co-manager was Stephens Inc.
The bonds are due 2013 to 2032 with 1.25% to 5% coupons.
Proceeds will be used to refund the city's series 2002 G.O. bonds and repay certain commercial paper notes.
| Issuer: | City of Charlotte, N.C.
|
| Issue: | Series 2012A general obligation refunding bonds
|
| Amount: | $175,495,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and Bank of America Merrill Lynch (lead), Stephens Inc. (co-manager)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | March 15
|
| Settlement date: | April 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.41 million | 2013 | Serial | 2% | 102.129
|
| $1 million | 2014 | Serial | 1.25% | 101.831
|
| $5.41 million | 2014 | Serial | 5% | 110.106
|
| $8,025,000 | 2015 | Serial | 5% | 113.904
|
| $9.24 million | 2016 | Serial | 5% | 117.527
|
| $9,385,000 | 2017 | Serial | 5% | 120.178
|
| $9.54 million | 2018 | Serial | 5% | 121.435
|
| $9.7 million | 2019 | Serial | 5% | 122.633
|
| $9,875,000 | 2020 | Serial | 5% | 123.313
|
| $10,055,000 | 2021 | Serial | 5% | 124
|
| $10,255,000 | 2022 | Serial | 5% | 124.564
|
| $10,455,000 | 2023 | Serial | 5% | 123.027
|
| $10,675,000 | 2024 | Serial | 5% | 122.116
|
| $10,905,000 | 2025 | Serial | 5% | 121.213
|
| $11.14 million | 2026 | Serial | 5% | 120.318
|
| $11.4 million | 2027 | Serial | 5% | 119.528
|
| $6,405,000 | 2028 | Serial | 3% | 97.357
|
| $6,405,000 | 2029 | Serial | 5% | 118.259
|
| $6,405,000 | 2030 | Serial | 5% | 117.679
|
| $6,405,000 | 2031 | Serial | 5% | 117.486
|
| $6,405,000 | 2032 | Serial | 5% | 116.814
|
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