New Issue: Durham County, N.C., sells $61.75 million of G.O. refunding bonds

By Sheri Kasprzak

New York, May 26 - Durham County in North Carolina priced Thursday $61.75 million of series 2011 general obligation refunding bonds, said a pricing sheet.

The bonds (Aaa/AAA) were sold through Stephens Inc. and Bank of America Merrill Lynch.

The bonds are due 2014 to 2022 with 3% to 5% coupons.

Proceeds will be used to refund the county's series 2004A-B and 2006A-B bonds.

Issuer:	Durham County, N.C.
Issue:	Series 2011 general obligation refunding bonds
Amount:	$61.75 million
Type:	Negotiated
Underwriters:	Stephens Inc. and Bank of America Merrill Lynch
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
Pricing date:	May 26
Settlement date:	June 8
Amount	Maturity	Type	Coupon	Price
$2 million	2014	Serial	3%	107.079
$1.905 million	2014	Serial	4%	110.419
$2 million	2015	Serial	3%	107.865
$1.87 million	2015	Serial	4%	112.139
$2 million	2016	Serial	3%	108.668
$6.75 million	2016	Serial	4%	113.86
$2 million	2017	Serial	3%	107.595
$6.675 million	2017	Serial	4%	113.624
$185,000	2018	Serial	4%	113.172
$8.16 million	2018	Serial	5%	119.998
$475,000	2019	Serial	4%	112.505
$7.915 million	2019	Serial	5%	120.085
$375,000	2020	Serial	4%	112.135
$8.37 million	2020	Serial	5%	120.447
$340,000	2021	Serial	4%	111.618
$8.445 million	2021	Serial	5%	120.625
$2.285 million	2022	Serial	5%	120.469

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