By Cristal Cody
Springdale, Ark., April 3 - Johnson County, Kan., priced $102.995 million bonds in five competitive sales on Thursday, the issuer confirmed in an interview with Prospect News.
The county priced $48.530 million general obligation and refunding bonds, and the Johnson County Public Building Commission priced $54.465 million lease purchase revenue bonds, county debt coordinator Leslie Friedel said.
The $28.545 million series 2008A general obligation bonds priced with a 4.4% true interest cost.
The bonds priced with 4% to 5% coupons to yield 2.05% to 4.89% and have maturities from 2009 through 2028.
The $18.575 million series 2008B refunding bonds priced with a 2.89% true interest cost. They were sold with coupons from 4% to 5% to yield 2% to 3.75%.
The $1.410 million series 2008C library refunding bonds priced with a 3.31% true interest cost. They priced with 3.5% to 3.875% coupons to yield 2% to 3.73%.
The refunding bonds have maturities from Sept. 1, 2008, through Sept. 1, 2017.
Harris NA was the winning bidder in the competitive sale for the series 2008A and C bonds, Friedel said. Wachovia Bank was the successful bidder on the series 2008B bonds.
The $48.825 series 2008A lease purchase revenue bonds priced with a 4.526% true interest cost. They priced with 4% to 5% coupons to yield 2.03% to 4.999%.
Morgan Keegan & Co. was the winning bidder.
The $5.640 million series 2008B bonds priced with a 4.38% true interest cost in a sale won by Wachovia Securities. The bonds priced with 4% to 4.75% coupons to yield 2.1% to 4.875%.
The lease revenue bonds have serial maturities from 2009 through 2028.
Proceeds will be used to partially refund series 1996, 1997 and 1998 county bonds and for wastewater and airport projects.
| Issuer: | Johnson County/Johnson County Public Building Commission, Kan.
|
| Ratings: | Moody's: Aaa
|
| S&P: AAA
|
| Pricing date: | April 3
|
|
|
| Issue: | General obligation bonds
|
| Amount: | $28.545 million
|
| Type: | Competitive
|
| True interest cost: | 4.4%
|
| Coupons: | 4% to 5%
|
| Yields: | 2.05% to 4.89%
|
| Maturities: | 2009 to 2028
|
| Underwriter: | Harris NA
|
|
|
| Issue: | Refunding bonds
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| Amount: | $18.575 million
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| Type: | Competitive
|
| True interest cost: | 2.89%
|
| Coupons: | 4% to 5%
|
| Yields: | 2% to 3.75%
|
| Maturities: | 2008 to 2017
|
| Underwriter: | Wachovia Bank
|
|
|
| Issue: | Refunding bonds
|
| Amount: | $1.410 million
|
| Type: | Competitive
|
| True interest cost: | 3.31%
|
| Coupons: | 3.5% to 3.875%
|
| Yields: | 2% to 3.73%
|
| Maturities: | 2008 to 2017
|
| Underwriter: | Harris NA
|
|
|
| Issue: | Lease purchase revenue bonds
|
| Amount: | $48.825 million
|
| Type: | Competitive
|
| True interest cost: | 4.526%
|
| Coupons: | 4% to 5%
|
| Yields: | 2.03% to 4.999%
|
| Maturities: | 2009 to 2028
|
| Underwriter: | Morgan Keegan & Co.
|
|
|
| Issue: | Lease purchase revenue bonds
|
| Amount: | $5.640 million
|
| Type: | Competitive
|
| True interest cost: | 4.38%
|
| Coupons: | 4% to 4.75%
|
| Yields: | 2.1% to 4.875%
|
| Maturities: | 2009 to 2028
|
| Underwriter: | Wachovia Securities
|
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