HomeMy WebLinkAboutA025 - Tabulation of Bids TABULATION OF BIDS
City of Ames, Iowa
$20,085,000* General Obligation Corporate Purpose and Refunding Bonds,Series 2015A
AWARD:
FTN FINANCIAL CAPITAL MARKETS
RATING: Moody's Investors Service,Inc. `Aal' SALE DATE: August 25,2015
COUPON NET INTEREST COST PURCHASE
NAME OF BIDDER RATE YEAR &TRUE INTEREST RATE PRICE
FTN FINANCIAL CAPITAL MARKETS 5.000% 2016-2020 $2,522,298.13* $21,678,720.00*
New York,New York 2.000% 2021
MORGAN STANLEY&CO.,INC. 5.000% 2022-2023 2.1454%*
New York,New York 2.500% 2024
RAYMOND JAMES&ASSOCIATES,INC. 3.000% 2025-2027
Memphis,Tennessee 3.000% 2029')
JEFFERIES&CO.,INC. 3.000% 2031 ')
New York,New York 3.125% 2033 ')
CITY SECURITIES 3.250% 2035 ')
Indianapolis,Indiana
SAMUEL A. RAMIREZ& CO.,INC.
New York,New York
* Subsequent to the receipt of bids, the City decreased the aggregate par amount of the Bonds to $18,445,000. The resulting
Purchase Price decreased to $19,894,168.15, the True Interest Rate increased to 2.1608% and the Net Interest Cost decreased to
$2,365,301.28.
1) Represents a term bond with mandatory redemption sinking payments.
PFM 801 Grand Avenue,Suite 3300
The PFM Group Des Moines,Iowa 50309
(515)243-26-2600
Financial&Investment�< , www.pfm.com
$20,085,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2015A
City of Ames, Iowa
Tuesday, August 25,2015
Page 2
COUPON NET INTEREST COST PURCHASE
NAME OF BIDDER RATE YEAR &TRUE INTEREST RATE PRICE
CITIGROUP GLOBAL MARKETS INC. 5.000% 2016-2020 $2,509,832.13 $21,515,791.05
Dallas,Texas 2.000% 2021
J.P. MORGAN SECURITIES LLC 5.000% 2022 2.1465%
New York,New York 3.000% 2023
SIEBERT BRANFORD SHANK& CO. 2.500% 2024
New York,New York 3.000% 2025-2027
WILLEY BROTHERS,INC. 3.000% 20301)
New York,New York 3.375% 2035')
DREXEL HAMILTON FINANCIAL
Philadelphia,Pennsylvania
SOUTHWEST SECURITIES,INC.
Houston, Texas
ROOSEVELT MANAGEMENT COMPANY
New York,New York
FIFTH THIRD BANK
Cinncinnati, Ohio
INTERCOASTAL FINANCIAL GROUP
Fort Pierce, Florida
SAMCO CAPITAL MARKETS
Houston,Texas
PROTECTIVE SECURITIES
Birmingham,Alabama
1) Represents a term bond with mandatory redemption sinking payments.
$20,085,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2015A
City of Ames,Iowa
Tuesday,August 25, 2015
Page 3
COUPON NET INTEREST COST PURCHASE
NAME OF BIDDER RATE YEAR &TRUE INTEREST RATE PRICE
ROBERT W. BAIRD&CO.,INC. 5.000% 2016-2019 $2,511,679.47 $21,413,893.45
Milwaukee,Wisconsin 3.000% 2020
C.L. KING& ASSOCIATES 2.000% 2021 2.1530%
New York,New York 4.000% 2022-2023
EDWARD D.JONES& CO. 2.500% 2024
St. Louis,Missouri 3.000% 2025-2030
CRONIN&CO.,INC. 3.125% 2031-2032
Minneapolis,Minnesota 3.250% 2033-2034
CREWS& ASSOCIATES,INC. 3.375% 2035
Little Rock,Arkansas
COASTAL SECURITIES,INC.
Houston,Texas
ROSS,SINCLAIRE&ASSOCIATES, LLC
Cincinnati,Ohio
WNJ CAPITAL
Philadelphia,Pennsylvania
FIDELITY CAPITAL MARKETS
Chicago, Illinois
DAVENPORT&CO. LLC
Richmond,Virginia
NORTHLAND SECURITIES,INC.
Minneapolis,Minnesota
DOUGHERTY& COMPANY,LLC
Minneapolis,Minnesota
VINING-SPARKS IBG,LTD PARTNERSHIP
Chicago,Illinois
DUNCAN-WILLIAMS,INC.
Richmond,Virginia
BERNARDI SECURITIES,INC.
Chicago,Illinois
OPPENHEIMER& CO.,INC.
Philadelphia,Pennsylvania
WAYNE HUMMER INVESTMENTS
Chicago,Illinois
D.A.DAVIDSON& CO
Denver,Colorado
SIERRA PACIFIC SECURITIES
Las Vegas,Nevada
ALAMO CAPITAL
San Antonio,Texas
WEDBUSH SECURITIES,INC.
Phoenix,Arizona
SUMRIDGE PARTNERS,LLC
Jersey City,New Jersey
COUNTRY CLUB BANK
Prairie Village,Kansas
LOOP CAPITAL MARKETS,LLC
New York,New York
$20,085,000* General Obligation Corporate Purpose and Refunding Bonds, Series 2015A
City of Ames, Iowa
Tuesday,August 25,2015
Page 4
COUPON NET INTEREST COST PURCHASE
NAME OF BIDDER RATE YEAR &TRUE INTEREST RATE PRICE
BMO CAPITAL MARKETS 4.000% 2016-2020 $2,531,286.61 $21,236,990.11
Chicago,Illinois 2.000% 2021
UBS SECURITIES LLC 5.000% 2022 2.1751%
Chicago,Illinois 3.000% 2023
2.500% 2024
3.000% 2025-2027
3.125% 2031 '�
3.500% 2035'�
HUTCHINSON SHOCKEY,ERLEY& CO. 5.000% 2016-2019 $2,676,985.91 $22,019,807.99
Chicago,Illinois 2.000% 2020
5.000% 2021-2023 2.2391%
4.000% 2024-2025
3.000% 2026
4.000% 2027
3.000% 2029')
3.125% 2031 ')
3.250% 2033 ')
3.375% 2035 ')
FIRSTSOUTHWEST 4.000% 2016-2018 $2,694,786.08 $21,650,912,98
Dallas,Texas 5.000% 2019
STIFEL,NICOLAUS&CO.,INC. 2.000% 2020-2021 2.2710%
Denver,Colorado 5.000% 2022-2023
KEYBANC CAPITAL MARKETS,INC. 2.500% 2024
Cleveland,Ohio 4.000% 2025-2027
B.C.ZIEGLER& COMPANY 3.000% 2029')
Chicago,Illinois 3.125% 2031 ')
THE WILLIAMS CAPITAL GROUP 3.250% 2033 ')
New York,New York 3.250% 2035')
GATES CAPITAL MANAGEMENT
New York,New York
SECURITY CAPITAL
Chicago,Illinois
1) Represents a term bond with mandatory redemption sinking payments.
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The PFM Group
SAVINGS
City of Ames,Iowa
General Obligation Corporate Purpose&Refunding Bonds,Series 2015A
Post Sale-FINAL
Present Value
Prior Refunding Annual to 09/22/2015
Date Debt Service Debt Service Savings Savings @ 2.0642944%
09/25/2015 (67,180.83) (67,180.83) (67,169.34)
12/01/2015 106,075.00 106,075.00 105,658.28
06/01/2016 1,541,075.00 1,498,104.17 42,970.83 81,865.00 42,364.75
12/01/2016 78,525.00 95,750.00 (17,225.00) (16,808.56)
06/01/2017 1,573,525.00 1,475,750.00 97,775.00 80,550.00 94,436.43
12/01/2017 49,825.00 61,250.00 (11,425.00) (10,922.16)
06/01/2018 1,614,825.00 1,521,250.00 93,575.00 82,150.00 88,542.63
12/01/2018 19,781.25 24,750.00 (4,968.75) (4,653.50)
06/01/2019 1,074,781.25 1,014,750.00 60,031.25 55,062.50 55,648.16
5,991,231.67 5,691,604.17 299,627.50 299,627.50 287,096.69
Savings Summary
PV of savings from cash flow 287,096.69
Plus:Refunding funds on hand 292.56
Net PV Savings 287,389.25
Aug 25,2015 2:21 pm Prepared by Public Financial Management,Inc. Page 8