New Issue: Sacramento County, Calif., sells $111.96 million taxable pension bonds

By Sheri Kasprzak

New York, Oct. 24 - Sacramento County, Calif., sold $111.96 million of series 2013 taxable pension obligation bonds, according to a pricing sheet.

The bonds (Baa1/A-/A-) were sold through Barclays.

The bonds are due 2025 and have a 7.25% coupon priced at 98.053 to yield 7.5%.

Proceeds will be used to refund the county's series 2004C-3 taxable pension obligation bonds.

Issuer:	Sacramento County, Calif.
Issue:	Series 2013 taxable pension obligation bonds
Amount:	$111.96 million
Maturity:	Aug. 1, 2025
Coupon:	7.25%
Price:	98.053
Yield:	7.50%
Type:	Negotiated
Underwriters:	Barclays (lead)
Ratings:	Moody's: Baa1
	Standard & Poor's: A-
	Fitch: A-
Pricing date:	Oct. 16
Settlement date:	Oct. 30

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