Published on 8/13/2012 in the Prospect News Municipals Daily.
New Issue: Houston brings $249.08 million of Sifma index floating-rate bonds
By Sheri Kasprzak
New York, Aug. 13 - The City of Houston brought to market $249,075,000 of series 2012C first-lien refunding revenue Sifma index floating-rate bonds, according to a pricing sheet.
The bonds (/AA/AA-) were sold through RBC Capital Markets LLC.
The bonds are due May 15, 2034, and bear interest at the Sifma index rate plus 60 basis points. The bonds feature an initial Sifma tender date of Aug. 1, 2016, and an initial optional Sifma call date of Feb. 1, 2016.
Proceeds will be used to refund the city's series 2010B combined utility system first-lien revenue bonds.
Issuer: | City of Houston
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Issue: | Series 2012C first-lien refunding revenue Sifma index floating-rate bonds
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Amount: | $249,075,000
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Maturity: | May 15, 2034
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Coupon: | Sifma index rate plus 60 bps
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Call: | Initial Sifma tender date of Aug. 1, 2016, optional Sifma call date of Feb. 1, 2016
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Type: | Negotiated
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Underwriter: | RBC Capital Markets LLC
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Ratings: | Standard & Poor's: AA
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| Fitch: AA-
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Pricing date: | Aug. 2
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Settlement date: | Aug. 15
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