DALLAS — San Antonio yesterday priced nearly $156 million of tax-exempt refunding bonds as the city, Texas’ second largest, seeks to keep up with growth in a weakening economy.

With ratings of AAA from Standard & Poor’s, Aa1 from Moody’s Investors Service, and AA-plus from Fitch Ratings, 5% coupon general improvement bonds maturing in 2023 drew an initial yield of 3.32%, a spread of 18 basis points over the Municipal Market Data triple-A equivalent. The bonds are callable in 2020.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.