By Sheri Kasprzak
New York, July 15 - The Fairfax County Economic Development Authority of Virginia priced $99.43 million of series 2011 Wiehle Avenue Metrorail Station Parking project revenue bonds competitively on Thursday with Bank of America Merrill Lynch winning the bid, said Mary Casciotti, assistant county debt manager.
The bonds (Aa2/AA+/) are due 2015 to 2032 with a term bond due in 2034, as previously reported. The serial coupons range from 2% to 5%, and the 2034 bonds have a 4.5% coupon priced at 98.
The true interest cost for the bonds was 4.143%.
Proceeds will be used to finance or reimburse the county for the costs of constructing a parking area in Reston, Va., for the Dulles Corridor of the Washington Area Metropolitan Transit Authority's Metrorail system.
| Issuer: | Fairfax County Economic Development Authority
|
| Issue: | Series 2011 Wiehle Avenue Metrorail Station Parking project revenue bonds
|
| Amount: | $99.43 million
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch (winner)
|
| True interest cost: | 4.143%
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Pricing date: | July 14
|
| Settlement date: | July 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.275 million | 2015 | Serial | 2% | 102.33
|
| $3.39 million | 2016 | Serial | 5% | 115.831
|
| $3.545 million | 2017 | Serial | 4% | 111.09
|
| $3.71 million | 2018 | Serial | 5% | 116.609
|
| $3.86 million | 2019 | Serial | 3% | 101.785
|
| $4.02 million | 2020 | Serial | 5% | 115.77
|
| $4.19 million | 2021 | Serial | 3.25% | 99.914
|
| $4.365 million | 2022 | Serial | 5% | 112.821
|
| $4.555 million | 2023 | Serial | 3.5% | 98.074
|
| $4.73 million | 2024 | Serial | 4% | 101.208
|
| $4.92 million | 2025 | Serial | 4% | 100.225
|
| $5.12 million | 2026 | Serial | 4% | 99.219
|
| $5.33 million | 2027 | Serial | 4% | 98.143
|
| $5.55 million | 2028 | Serial | 4.125% | 98.496
|
| $5.79 million | 2029 | Serial | 4.25% | 98.882
|
| $6.04 million | 2030 | Serial | 4.25% | 98
|
| $6.31 million | 2031 | Serial | 4.5% | 99.607
|
| $6.6 million | 2032 | Serial | 4.5% | 98.661
|
| $14.13 million | 2034 | Term | 4.5% | 98
|
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