Published on 6/21/2011 in the Prospect News Municipals Daily.
New Issue: Union County, N.J., sells $80 million of general improvement bonds
By Sheri Kasprzak
New York, June 21 - Union County in New Jersey sold $80 million of series 2011 general improvement bonds on Tuesday, according to a pricing sheet.
The offering included $69.72 million of series 2011 general improvement bonds and $10.28 million of series 2011 county vocational-technical school bonds.
The 2011 general improvement bonds are due 2012 to 2031 with 3% to 4% coupons. The 2011 county vocational-technical school bonds are due 2012 to 2024 with 3% to 4% coupons.
The bonds (Aaa/AA+/AAA) were sold competitively.
Proceeds will be used to refund existing bond anticipation notes.
| Issuer: | Union County, N.J.
|
| Issue: | Series 2011 general improvement bonds
|
| Amount: | $80 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | June 21
|
| Settlement date: | July 1
|
|
|
| $69.72 million series 2011 general improvement bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.165 million | 2012 | Serial | 3% | 101.803
|
| $2.165 million | 2013 | Serial | 3% | 104.075
|
| $2.165 million | 2014 | Serial | 3% | 105.737
|
| $2.165 million | 2015 | Serial | 3% | 106.659
|
| $2.165 million | 2016 | Serial | 3% | 107.296
|
| $2.165 million | 2017 | Serial | 3% | 106.769
|
| $2.255 million | 2018 | Serial | 3% | 105.697
|
| $4.315 million | 2019 | Serial | 3% | 104.176
|
| $4.33 million | 2020 | Serial | 3.25% | 104.695
|
| $4.33 million | 2021 | Serial | 4% | 109.742
|
| $4.15 million | 2022 | Serial | 4% | 106.711
|
| $4.15 million | 2023 | Serial | 4% | 104.264
|
| $4.15 million | 2024 | Serial | 4% | 102.498
|
| $4.15 million | 2025 | Serial | 4% | 101.578
|
| $4.15 million | 2026 | Serial | 4% | 100.548
|
| $4.15 million | 2027 | Serial | 4% | 100
|
| $4.15 million | 2028 | Serial | 4% | 99.393
|
| $4.15 million | 2029 | Serial | 4% | 98.747
|
| $4.15 million | 2030 | Serial | 4% | 98.059
|
| $4.15 million | 2031 | Serial | 4% | 97.336
|
|
|
| $10.28 million series 2011 county vocational-technical school bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $540,000 | 2012 | Serial | 3% | 101.803
|
| $540,000 | 2013 | Serial | 3% | 104.075
|
| $540,000 | 2014 | Serial | 3% | 105.737
|
| $540,000 | 2015 | Serial | 3% | 106.659
|
| $540,000 | 2016 | Serial | 3% | 107.296
|
| $540,000 | 2017 | Serial | 3% | 106.769
|
| $560,000 | 2018 | Serial | 3% | 105.697
|
| $1.08 million | 2019 | Serial | 3% | 104.176
|
| $1.08 million | 2020 | Serial | 3.25% | 104.695
|
| $1.08 million | 2021 | Serial | 4% | 109.742
|
| $1.08 million | 2022 | Serial | 4% | 106.711
|
| $1.08 million | 2023 | Serial | 4% | 104.264
|
| $1.08 million | 2024 | Serial | 4% | 102.498
|
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