Published on 4/12/2012 in the Prospect News Municipals Daily.
New Issue: Durham County, N.C., prices $64.67 million of G.O. refunding bonds
By Sheri Kasprzak
New York, April 12 - Durham County, N.C., sold $64.67 million of series 2012 general obligation refunding bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through lead managers Bank of America Merrill Lynch and Rice Financial Products Co.
The bonds are due 2013 to 2032 with 3% to 5% coupons.
Proceeds will be used to refund the county's series 2002A-B public improvement G.O. bonds and its series 2011 G.O. public improvement bond anticipation notes.
Issuer: | Durham County, N.C.
|
Issue: | Series 2012 general obligation refunding bonds
|
Amount: | $64.67 million
|
Type: | Negotiated
|
Underwriters: | Bank of America Merrill Lynch and Rice Financial Products Co. (lead)
|
Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
Pricing date: | April 12
|
Settlement date: | April 25
|
|
Amount | Maturity | Type | Coupon | Price
|
$8.53 million | 2013 | Serial | 3% | 102.619
|
$8.41 million | 2014 | Serial | 4% | 106.986
|
$2.92 million | 2015 | Serial | 5% | 112.93
|
$2,915,000 | 2016 | Serial | 4% | 112.572
|
$2,905,000 | 2017 | Serial | 5% | 119.526
|
$2,905,000 | 2018 | Serial | 4% | 116.237
|
$2,895,000 | 2019 | Serial | 5% | 123.632
|
$2.89 million | 2020 | Serial | 3% | 110.155
|
$2.88 million | 2021 | Serial | 5% | 125.92
|
$2.87 million | 2022 | Serial | 4% | 117.64
|
$2,455,000 | 2023 | Serial | 5% | 124.961
|
$2,455,000 | 2024 | Serial | 5% | 123.653
|
$2,455,000 | 2025 | Serial | 5% | 122.262
|
$2,455,000 | 2026 | Serial | 3% | 98.595
|
$2,455,000 | 2027 | Serial | 3.125% | 98.879
|
$2,455,000 | 2028 | Serial | 5% | 119.535
|
$2,455,000 | 2029 | Serial | 4% | 107.023
|
$2,455,000 | 2030 | Serial | 5% | 118.579
|
$2,455,000 | 2031 | Serial | 5% | 118.104
|
$2,455,000 | 2032 | Serial | 5% | 117.537
|
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