Published on 12/10/2013 in the Prospect News Municipals Daily.
New Issue: King County, Wash., sells $42.82 million G.O. refunding bonds
By Sheri Kasprzak
New York, Dec. 10 - King County, Wash., sold $42.82 million of series 2013B limited tax general obligation refunding bonds, according to a pricing sheet. The offering was downsized from $79.4 million.
The bonds (Aa1/AAA/AA+) were sold through senior manager J.P. Morgan Securities LLC.
The bonds are due 2015 to 2026 with 3% to 5% coupons and yields from 0.36% to 3.45%.
Proceeds will be used to refund existing G.O. bonds.
| Issuer: | King County, Wash.
|
| Issue: | Series 2013B limited tax general obligation refunding bonds
|
| Amount: | $42.82 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 19
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,785,000 | 2015 | Serial | 3% | 105.125 | 0.36%
|
| $2,865,000 | 2016 | Serial | 4% | 110.019 | 0.57%
|
| $2.98 million | 2017 | Serial | 4% | 111.961 | 0.91%
|
| $3.1 million | 2018 | Serial | 5% | 117.524 | 1.33%
|
| $3,255,000 | 2019 | Serial | 5% | 118.412 | 1.73%
|
| $3.42 million | 2020 | Serial | 5% | 118.023 | 2.19%
|
| $3.59 million | 2021 | Serial | 5% | 117.528 | 2.55%
|
| $3.77 million | 2022 | Serial | 5% | 117.308 | 2.80%
|
| $3.96 million | 2023 | Serial | 5% | 117.093 | 3.00%
|
| $4,155,000 | 2024 | Serial | 5% | 115.325 | 3.19%
|
| $4.36 million | 2025 | Serial | 5% | 114.134 | 3.32%
|
| $4.58 million | 2026 | Serial | 5% | 112.958 | 3.45%
|
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