Published on 3/14/2013 in the Prospect News Municipals Daily.
New Issue: Durham Capital Financing, N.C., brings $112.47 million of limited obligation bonds
By Sheri Kasprzak
New York, March 14 - The Durham Capital Financing Corp. of North Carolina sold $112.47 million of series 2013 limited obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through Wells Fargo Securities LLC.
The bonds are due 2014 to 2034 with term bonds due in 2038 and 2043. The serial coupons range from 1.5% to 5%. The 2038 bonds have a 5% coupon priced at 113.384 and the 2043 bonds have a 4% coupon priced at 101.164.
Proceeds will be used to construct a county courthouse, renovate a county storage facility and renovate the county's judicial building.
| Issuer: | Durham Capital Financing Corp.
|
| Issue: | Series 2013 limited obligation bonds
|
| Amount: | $112.47 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), Stephens Inc. and Rice Financial Products Co. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | March 14
|
| Settlement date: | March 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.75 million | 2014 | Serial | 2% | 102.004
|
| $3,745,000 | 2015 | Serial | 4% | 107.674
|
| $3.75 million | 2016 | Serial | 5% | 113.748
|
| $3.75 million | 2017 | Serial | 5% | 117.03
|
| $3,745,000 | 2018 | Serial | 1.5% | 101.904
|
| $3.75 million | 2019 | Serial | 5% | 120.894
|
| $3,745,000 | 2020 | Serial | 2% | 101.881
|
| $3.75 million | 2021 | Serial | 5% | 122.857
|
| $3,745,000 | 2022 | Serial | 2% | 98.345
|
| $3.75 million | 2023 | Serial | 5% | 123.549
|
| $3.75 million | 2024 | Serial | 5% | 122.032
|
| $3.75 million | 2025 | Serial | 5% | 120.537
|
| $3.75 million | 2026 | Serial | 5% | 119.357
|
| $3,745,000 | 2027 | Serial | 4% | 107.799
|
| $3.75 million | 2028 | Serial | 5% | 118.095
|
| $3.75 million | 2029 | Serial | 5% | 117.517
|
| $3.75 million | 2030 | Serial | 3.25% | 97.168
|
| $3,745,000 | 2031 | Serial | 5% | 116.277
|
| $3.75 million | 2032 | Serial | 5% | 115.805
|
| $3.75 million | 2033 | Serial | 5% | 115.428
|
| $3.75 million | 2034 | Serial | 5% | 114.96
|
| $15 million | 2038 | Term | 5% | 113.384
|
| $18.75 million | 2043 | Term | 4% | 101.164
|
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