Published on 8/23/2013 in the Prospect News Municipals Daily.
New Issue: Columbus, Ohio, offers up $324.86 million of various purpose G.O. bonds
By Sheri Kasprzak
New York, Aug. 23 - The City of Columbus, Ohio, sold $324,855,000 of series 2013 various purpose general obligation bonds, according to a pricing sheet.
The bonds (Aaa//AAA) were sold through senior manager BofA Merrill Lynch.
The deal included $216,415,000 of series 2013A unlimited tax bonds, $85.73 million of series 2013B limited tax bonds, $3.39 million of series 2013C taxable unlimited tax bonds and $19.32 million of series 2013D taxable limited tax bonds.
The 2013A bonds are due 2015 to 2034 and have coupons from 4.5% to 5% and yields from 0.46% to 4.53%. The 2013 B bonds are due 2015 to 2029 with coupons from 3% to 5% and yields from 0.46% to 4.28%. The 2013C bonds are due 2015 to 2031 with coupons from 0.59% to 4.81% all priced at par. The 2013D bonds are due 2015 to 2029 with coupons from 0.59% to 4.61% all priced at par.
Proceeds will be used to finance various capital improvements.
| Issuer: | City of Columbus, Ohio
|
| Issue: | Series 2013 various purpose general obligation bonds
|
| Amount: | $324,855,000
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch (lead)
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Pricing date: | Aug. 21
|
| Settlement date: | Sept. 4
|
|
|
| $216,415,000 series 2013A unlimited tax bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $12.6 million | 2015 | Serial | 5% | 108.79 | 0.46%
|
| $12,575,000 | 2016 | Serial | 5% | 112.208 | 0.80%
|
| $12.57 million | 2017 | Serial | 5% | 114.689 | 1.18%
|
| $12.57 million | 2018 | Serial | 5% | 116.212 | 1.58%
|
| $12,565,000 | 2019 | Serial | 5% | 116.68 | 2.01%
|
| $12,335,000 | 2020 | Serial | 5% | 116.684 | 2.38%
|
| $12,335,000 | 2021 | Serial | 5% | 116.195 | 2.72%
|
| $12.33 million | 2022 | Serial | 5% | 115.675 | 2.99%
|
| $12.33 million | 2023 | Serial | 5% | 115.506 | 3.17%
|
| $12,325,000 | 2024 | Serial | 5% | 113.677 | 3.37%
|
| $12,325,000 | 2025 | Serial | 5% | 111.882 | 3.57%
|
| $12,325,000 | 2026 | Serial | 5% | 110.296 | 3.75%
|
| $12.32 million | 2027 | Serial | 5% | 109.167 | 3.88%
|
| $12,315,000 | 2028 | Serial | 5% | 108.052 | 4.01%
|
| $11.74 million | 2029 | Serial | 5% | 107.12 | 4.12%
|
| $11.74 million | 2030 | Serial | 5% | 106.364 | 4.21%
|
| $6.18 million | 2031 | Serial | 5% | 105.863 | 4.27%
|
| $4.31 million | 2032 | Serial | 5% | 105.2 | 4.35%
|
| $4.31 million | 2033 | Serial | 5% | 104.789 | 4.40%
|
| $4,315,000 | 2034 | Serial | 4.5% | 99.594 | 4.53%
|
|
|
| $85.73 million series 2013B limited tax bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $7,375,000 | 2015 | Serial | 4% | 106.854 | 0.46%
|
| $7.37 million | 2016 | Serial | 4% | 109.302 | 0.80%
|
| $7,365,000 | 2017 | Serial | 4% | 110.844 | 1.18%
|
| $500,000 | 2018 | Serial | 4% | 111.371 | 1.60%
|
| $6.87 million | 2018 | Serial | 5% | 116.109 | 1.60%
|
| $100,000 | 2019 | Serial | 4% | 111.101 | 2.01%
|
| $7.26 million | 2019 | Serial | 5% | 116.68 | 2.01%
|
| $350,000 | 2020 | Serial | 3% | 103.752 | 2.41%
|
| $6,125,000 | 2020 | Serial | 5% | 116.475 | 2.41%
|
| $750,000 | 2021 | Serial | 4% | 108.867 | 2.75%
|
| $5,725,000 | 2021 | Serial | 5% | 115.962 | 2.75%
|
| $875,000 | 2022 | Serial | 4% | 107.632 | 3.02%
|
| $4.8 million | 2022 | Serial | 5% | 115.42 | 3.02%
|
| $125,000 | 2023 | Serial | 3% | 98.306 | 3.20%
|
| $5,545,000 | 2023 | Serial | 5% | 115.229 | 3.20%
|
| $5,665,000 | 2024 | Serial | 3.25% | 98.637 | 3.40%
|
| $4,095,000 | 2025 | Serial | 5% | 111.616 | 3.60%
|
| $4,095,000 | 2026 | Serial | 5% | 110.034 | 3.78%
|
| $100,000 | 2027 | Serial | 4% | 99.68 | 4.03%
|
| $3,995,000 | 2027 | Serial | 5% | 108.909 | 3.91%
|
| $4.09 million | 2028 | Serial | 5% | 107.797 | 4.04%
|
| $2,555,000 | 2029 | Serial | 4.125% | 98.219 | 4.28%
|
|
|
| $3.39 million series 2013C taxable unlimited tax bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $200,000 | 2015 | Serial | 0.59% | 100 | 0.59%
|
| $200,000 | 2016 | Serial | 1.03% | 100 | 1.03%
|
| $200,000 | 2017 | Serial | 1.79% | 100 | 1.79%
|
| $200,000 | 2018 | Serial | 2.14% | 100 | 2.14%
|
| $200,000 | 2019 | Serial | 2.61% | 100 | 2.61%
|
| $195,000 | 2020 | Serial | 2.91% | 100 | 2.91%
|
| $200,000 | 2021 | Serial | 3.26% | 100 | 3.26%
|
| $200,000 | 2022 | Serial | 3.51% | 100 | 3.51%
|
| $200,000 | 2023 | Serial | 3.71% | 100 | 3.71%
|
| $200,000 | 2024 | Serial | 3.81% | 100 | 3.81%
|
| $200,000 | 2025 | Serial | 4.01% | 100 | 4.01%
|
| $200,000 | 2026 | Serial | 4.21% | 100 | 4.21%
|
| $200,000 | 2027 | Serial | 4.31% | 100 | 4.31%
|
| $200,000 | 2028 | Serial | 4.46% | 100 | 4.46%
|
| $200,000 | 2029 | Serial | 4.61% | 100 | 4.61%
|
| $200,000 | 2030 | Serial | 4.76% | 100 | 4.76%
|
| $195,000 | 2031 | Serial | 4.81% | 100 | 4.81%
|
|
|
| $19.32 million series 2013D taxable limited tax bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.2 million | 2015 | Serial | 0.59% | 100 | 0.59%
|
| $2.19 million | 2016 | Serial | 1.03% | 100 | 1.03%
|
| $2.19 million | 2017 | Serial | 1.79% | 100 | 1.79%
|
| $2.19 million | 2018 | Serial | 2.14% | 100 | 2.14%
|
| $2.19 million | 2019 | Serial | 2.61% | 100 | 2.61%
|
| $2.18 million | 2020 | Serial | 2.91% | 100 | 2.91%
|
| $2.18 million | 2021 | Serial | 3.26% | 100 | 3.26%
|
| $1.51 million | 2022 | Serial | 3.51% | 100 | 3.51%
|
| $1.51 million | 2023 | Serial | 3.71% | 100 | 3.71%
|
| $1,505,000 | 2024 | Serial | 3.81% | 100 | 3.81%
|
| $335,000 | 2025 | Serial | 4.01% | 100 | 4.01%
|
| $335,000 | 2026 | Serial | 4.21% | 100 | 4.21%
|
| $335,000 | 2027 | Serial | 4.31% | 100 | 4.31%
|
| $335,000 | 2028 | Serial | 4.46% | 100 | 4.46%
|
| $335,000 | 2029 | Serial | 4.61% | 100 | 4.61%
|
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