By Sheri Kasprzak
New York, Jan. 25 - Fairfax County in Virginia sold $192.02 million of series 2011A public improvement and refunding bonds Tuesday, said a pricing sheet.
The bonds (Aaa//AAA) were sold competitively with J.P. Morgan Securities LLC winning the bid. The true interest cost came in at 3.71%.
The bonds are due 2012 to 2031 with coupons from 2% to 5%.
Proceeds will be used to fund improvements to school facilities, transportation systems and park and recreation facilities, as well as to refund existing debt.
| Issuer: | Fairfax County, Va.
|
| Issue: | Series 2011A public improvement and refunding bonds
|
| Amount: | $192.02 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| TIC: | 3.71%
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 10
|
|
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 2% | NRO
|
| 2013 | Serial | 5% | 109.011
|
| 2014 | Serial | 5% | 111.844
|
| 2015 | Serial | 5% | 113.656
|
| 2016 | Serial | 5% | 115.167
|
| 2017 | Serial | 5% | NRO
|
| 2018 | Serial | 5% | NRO
|
| 2019 | Serial | 5% | 115.284
|
| 2020 | Serial | 5% | NRO
|
| 2021 | Serial | 4% | NRO
|
| 2022 | Serial | 4% | NRO
|
| 2023 | Serial | 4% | NRO
|
| 2024 | Serial | 4% | NRO
|
| 2025 | Serial | 4% | 98.93
|
| 2026 | Serial | 4.125% | 98.61
|
| 2027 | Serial | 4.25% | 98.844
|
| 2028 | Serial | 5% | NRO
|
| 2029 | Serial | 5% | NRO
|
| 2030 | Serial | 5% | NRO
|
| 2031 | Serial | 5% | NRO
|
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