By Sheri Kasprzak
New York, Sept. 16 - Frederick County in Maryland sold $97.695 million in series 2010 special obligation bonds on Thursday, according to a pricing sheet.
The bonds were sold on a negotiated basis. Citigroup Global Markets Inc. was the senior manager for the 2010A bonds and the sole manager for the 2010B bonds. M&T Securities Inc. and RBC Capital Markets Corp. were the co-managers for the 2010B bonds.
The deal included $77.675 million in series 2010A special obligation bonds and $20.02 million in series 2010B subordinate special obligation bonds.
The 2010A bonds are due 2011 to 2025 with term bonds due 2030 and 2040. Coupons range from 2% to 5%. The 2030 bonds have a 5% coupon priced at 107.862. The 2040 bonds have a 5% coupon priced at 104.774.
The 2010B bonds have a 5.5% coupon priced at par.
Proceeds will be used to acquire, design and construct the Urbana Community Development Authority's planned urban development comprised of Urbana Highlands, Villages of Urbana, Urbana Corporate Center and Urban Town Center Employment District.
| Issuer: | Frederick County, Md.
|
| Issue: | Series 2010 special obligation bonds
|
| Amount: | $97.695 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead for 2010A and sole for 2010B), M&T Securities Inc. and RBC Capital Markets Corp. (co-managers for 2010B)
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 23
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 100.728
|
| 2012 | Serial | 3% | 103.056
|
| 2013 | Serial | 3% | 104.167
|
| 2014 | Serial | 3% | 104.355
|
| 2015 | Serial | 3% | 103.741
|
| 2016 | Serial | 4% | 108.18
|
| 2017 | Serial | 4% | 107.288
|
| 2018 | Serial | 4% | 106.312
|
| 2019 | Serial | 5% | 112.527
|
| 2020 | Serial | 5% | 112.142
|
| 2021 | Serial | 5% | 111.74
|
| 2022 | Serial | 3.625% | 98.44
|
| 2022 | Serial | 5% | 111.399
|
| 2023 | Serial | 5% | 111.297
|
| 2024 | Serial | 5% | 111.177
|
| 2025 | Serial | 5% | 110.948
|
| 2030 | Term | 5% | 107.862
|
| 2040 | Term | 5% | 104.774
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2040 | Term | 5.5% | 100
|
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