Published on 6/16/2016 in the Prospect News Municipals Daily.
New Issue: Frederick County, Md., sells $120.23 million of general obligation bonds
By Sheri Kasprzak
New York, June 16 – Frederick County, Md., priced $120,225,000 of series 2016 general obligation public facilities bonds, according to a pricing sheet.
The deal included $85,405,000 of series 2016A bonds and $34.82 million of series 2016B taxable refunding bonds.
The 2016A bonds are due 2017 to 2036 with 2% to 5% coupons and yields from 0.50% to 2.65%.
The 2016B bonds are due 2017 to 2036 with coupons from 2.06% to 3% and yields from 0.60% to 2.92%.
The bonds (Aaa/AAA/AAA) were sold competitively. The issuer did not return calls for the winning bidder.
Proceeds will be used to finance capital improvement projects and refund existing debt.
| Issuer: | Frederick County, Md.
|
| Issue: | Series 2016 general obligation public facilities bonds
|
| Amount: | $120,225,000
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Pricing date: | June 15
|
| Settlement date: | June 29
|
|
|
| $85,405,000 series 2016A general obligation public facilities bonds
|
| Amount Maturity | Type | Coupon Price | Yield
|
| $2,705,000 | 2017 | Serial | 2% | 101.626 0.50%
|
| $2.8 million | 2018 | Serial | 5% | 109.01 | 0.65%
|
| $2,945,000 | 2019 | Serial | 5% | 112.952 0.75%
|
| $3,095,000 | 2020 | Serial | 5% | 116.554 0.87%
|
| $3,255,000 | 2021 | Serial | 5% | 119.797 1.00%
|
| $3,425,000 | 2022 | Serial | 5% | 122.907 1.10%
|
| $3.6 million | 2023 | Serial | 5% | 125.748 1.20%
|
| $3,785,000 | 2024 | Serial | 5% | 128.32 | 1.30%
|
| $3,975,000 | 2025 | Serial | 5% | 130.622 1.40%
|
| $4.18 million | 2026 | Serial | 5% | 132.654 1.50%
|
| $4,395,000 | 2027 | Serial | 5% | 131.668 1.59%
|
| $4.62 million | 2028 | Serial | 5% | 131.124 1.64%
|
| $4.81 million | 2029 | Serial | 3% | 107.014 2.22%
|
| $4,955,000 | 2030 | Serial | 3% | 105.991 2.33%
|
| $5,105,000 | 2031 | Serial | 3% | 105.071 2.43%
|
| $5.24 million | 2032 | Serial | 2.25% | 97.483 | 2.44%
|
| $5,375,000 | 2033 | Serial | 2.875% | 103.053 2.53%
|
| $5,535,000 | 2034 | Serial | 3% | 103.708 2.58%
|
| $5.71 million | 2035 | Serial | 3.125% | 104.45 | 2.62%
|
| $5,895,000 | 2036 | Serial | 3.25% | 105.279 2.65%
|
|
|
| $34.82 million series 2016B taxable general obligation public facilities refunding bonds
|
| Amount Maturity | Type | Coupon Price | Yield
|
| $1,415,000 | 2017 | Serial | 3% | 102.6 | 0.60%
|
| $1.43 million | 2018 | Serial | 3% | 104.441 0.85%
|
| $1,445,000 | 2019 | Serial | 3% | 106.067 1.00%
|
| $1.47 million | 2020 | Serial | 3% | 107.368 1.15%
|
| $1,495,000 | 2021 | Serial | 3% | 107.934 1.38%
|
| $1,525,000 | 2022 | Serial | 3% | 108.514 1.53%
|
| $1,555,000 | 2023 | Serial | 3% | 107.537 1.86%
|
| $1.59 million | 2024 | Serial | 3% | 107.743 1.96%
|
| $1,625,000 | 2025 | Serial | 2.06% | 100 | 2.06%
|
| $1,665,000 | 2026 | Serial | 2.21% | 100 | 2.21%
|
| $1.71 million | 2027 | Serial | 2.31% | 100 | 2.31%
|
| $1.76 million | 2028 | Serial | 2.41% | 100 | 2.41%
|
| $1.81 million | 2029 | Serial | 2.46% | 100 | 2.46%
|
| $1.86 million | 2030 | Serial | 2.56% | 100 | 2.56%
|
| $1.92 million | 2031 | Serial | 2.61% | 100 | 2.61%
|
| $1,975,000 | 2032 | Serial | 3% | 102.543 2.71%
|
| $2.04 million | 2033 | Serial | 3% | 102.099 2.76%
|
| $2,105,000 | 2034 | Serial | 3% | 101.569 2.82%
|
| $2,175,000 | 2035 | Serial | 2.9% | 100 | 2.90%
|
| $2.25 million | 2036 | Serial | 2.92% | 100 | 2.92%
|
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