Published on 5/9/2012 in the Prospect News Municipals Daily.
New Issue: Fairfax County, Va., brings $86.28 million of Route 28 refunding bonds
By Sheri Kasprzak
New York, May 9 - The Fairfax County Economic Development Authority of Virginia sold $86,275,000 of series 2012 Route 28 transportation contract revenue refunding bonds, according to a pricing sheet.
The bonds (Aa3/AA+/) were sold competitively, but calls to the issuer for the winning bidder were not returned by press time Wednesday.
The bonds are due 2014 to 2033 with 2% to 4% coupons.
Proceeds will be used to refund the authority's series 2003 and 2004 transportation revenue bonds, which were used to make improvements to Route 28, a north-south state highway that passes through Fairfax and Loudoun counties and connects Route 7 in the north with the Dulles, Greenway, Route 50 and Interstate 66 in the south, passing through the Washington Dulles International Airport.
| Issuer: | Fairfax County Economic Development Authority
|
| Issue: | Series 2012 Route 28 transportation contract revenue refunding bonds
|
| Amount: | $86,275,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA+
|
| Pricing date: | May 9
|
| Settlement date: | May 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1 million | 2014 | Serial | 4% | NRO
|
| $2.18 million | 2015 | Serial | 4% | NRO
|
| $2.31 million | 2016 | Serial | 4% | 111.72
|
| $2,575,000 | 2017 | Serial | 4% | 113.673
|
| $3.06 million | 2018 | Serial | 4% | 115.174
|
| $3.32 million | 2019 | Serial | 2% | 103.245
|
| $4.1 million | 2020 | Serial | 4% | 116.445
|
| $4.26 million | 2021 | Serial | 4% | 116.155
|
| $4,435,000 | 2022 | Serial | 4% | 116.349
|
| $4.61 million | 2023 | Serial | 2.25% | 98.5
|
| $4,715,000 | 2024 | Serial | 3% | 103.455
|
| $4,855,000 | 2025 | Serial | 3% | 101.71
|
| $5,005,000 | 2026 | Serial | 3% | 99.436
|
| $5.15 million | 2027 | Serial | 3% | 98.228
|
| $5,305,000 | 2028 | Serial | 3% | 96.919
|
| $5,465,000 | 2029 | Serial | 3.25% | 98.717
|
| $5,645,000 | 2030 | Serial | 4% | NRO
|
| $5,865,000 | 2031 | Serial | 4% | NRO
|
| $6,105,000 | 2032 | Serial | 3.5% | 98.586
|
| $6,315,000 | 2033 | Serial | 3.5% | 97.819
|
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