By Sheri Kasprzak
New York, July 22 - The city of Durham, N.C., priced $58.92 million in series 2008 general obligation bonds (Aaa/AAA/AAA) on July 15, said an official statement released Tuesday.
The sale includes $12.35 million in series 2008A bonds and $46.57 million in series 2008B bonds.
The series 2008A bonds are due from 2010 to 2026 with coupons from 3.5% to 5% and yields from 2.15% to 4.24%. The 2008B bonds are due 2010 to 2026 with coupons from 3.5% to 4.75% and yields from 2.1% to 4.28%.
The bonds were sold on a competitive basis, but the winning bidder could not be determined by press time Tuesday.
Proceeds will be used for capital improvements to public streets and buildings.
| Issuer: | Durham, N.C.
|
| Issue: | Series 2008 general obligation bonds
|
| Amount: | $58.92 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 15
|
| Settlement dates: | Aug. 5 for 2008A, Aug. 6 for 2008B
|
|
|
| Series 2008A
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3.75% | 2.15%
|
| 2011 | Serial | 3.75% | 2.57%
|
| 2012 | Serial | 3.5% | 2.80%
|
| 2013 | Serial | 3.5% | 2.98%
|
| 2014 | Serial | 3.5% | 3.12%
|
| 2015 | Serial | 3.5% | 3.24%
|
| 2016 | Serial | 3.75% | 3.33%
|
| 2017 | Serial | 4% | 3.50%
|
| 2018 | Serial | 5% | 3.62%
|
| 2019 | Serial | 5% | 3.74%
|
| 2020 | Serial | 4% | 3.85%
|
| 2021 | Serial | 4% | 3.95%
|
| 2022 | Serial | 4% | 4.03%
|
| 2023 | Serial | 4% | 4.10%
|
| 2024 | Serial | 4% | 4.14%
|
| 2025 | Serial | 4% | 4.19%
|
| 2026 | Serial | 4.125% | 4.24%
|
|
|
| Series 2008B
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 4% | 2.10%
|
| 2011 | Serial | 4.75% | 2.55%
|
| 2012 | Serial | 5% | 2.80%
|
| 2013 | Serial | 3.5% | 2.96%
|
| 2014 | Serial | 3.5% | 3.07%
|
| 2015 | Serial | 3.5% | 3.15%
|
| 2016 | Serial | 4% | 3.31%
|
| 2017 | Serial | 4% | 3.44%
|
| 2018 | Serial | 4% | 3.57%
|
| 2019 | Serial | 4% | 3.73%
|
| 2020 | Serial | 4.5% | 3.88%
|
| 2021 | Serial | 4.5% | 4.00%
|
| 2022 | Serial | 4% | 4.05%
|
| 2023 | Serial | 4% | 4.14%
|
| 2024 | Serial | 4% | 4.18%
|
| 2025 | Serial | 4% | 4.24%
|
| 2026 | Serial | 4% | 4.28%
|
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