By Sheri Kasprzak
New York, Nov. 19 - Buncombe County, N.C., priced $51.92 million of series 2010 limited obligation bonds on Wednesday, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through Baird & Co. Inc. and RBC Capital Markets Corp.
The sale included $31.5 million of series 2010A tax-exempt bonds and $20.42 million of series 2010B Build America Bonds.
The 2010A bonds are due 2011 to 2022 with 3% to 5.25% coupons. The 2010B bonds are due 2026 and 2030 with 6.5% and 6.8% coupons, respectively, both priced at par.
Proceeds will be used to construct, acquire and equip a nine-story life safety tower as an addition to the county's administrative building; to construct, install and equip a public safety training center; to acquire and install a new radio communications system; and to improve county offices.
| Issuer: | Buncombe County, N.C.
|
| Issue: | Series 2010 limited obligation bonds
|
| Amount: | $51.92 million
|
| Type: | Negotiated
|
| Underwriters: | Baird & Co. Inc. and RBC Capital Markets Corp.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Nov. 17
|
| Settlement date: | Dec. 16
|
|
|
| $31.5 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $880,000 | 2011 | Serial | 3% | 100.981
|
| $1.93 million | 2012 | Serial | 3% | 102.476
|
| $3.6 million | 2013 | Serial | 3% | 103.312
|
| $3.59 million | 2014 | Serial | 3% | 103.257
|
| $225,000 | 2015 | Serial | 3% | 102.564
|
| $1.62 million | 2015 | Serial | 4% | 106.769
|
| $1.75 million | 2015 | Serial | 5% | 110.974
|
| $2.565 million | 2016 | Serial | 4% | 106.033
|
| $2.56 million | 2017 | Serial | 4% | 104.931
|
| $2.555 million | 2018 | Serial | 4% | 103.255
|
| $1.18 million | 2019 | Serial | 4% | 101.506
|
| $1.38 million | 2019 | Serial | 5% | 108.684
|
| $2.555 million | 2020 | Serial | 5% | 107.564
|
| $2.555 million | 2021 | Serial | 5% | 105.789
|
| $2.555 million | 2022 | Serial | 5.25% | 106.915
|
|
|
| $20.42 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.22 million | 2026 | Term | 6.5% | 100
|
| $10.2 million | 2030 | Term | 6.8% | 100
|
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