Published on 9/7/2011 in the Prospect News Municipals Daily.
New Issue: Fulton County, Ga., brings $232.28 million water and sewerage bonds
By Sheri Kasprzak
New York, Sept. 7 - Fulton County, Ga., priced $232,279,510 of series 2011 water and sewerage revenue refunding bonds on Wednesday, according to a pricing sheet.
The bonds (Aa3/AA-) were sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers were Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Rice Financial Products Co. and Sterne, Agee, Leach & Co.
The bonds are due 2013 to 2028 with 2% to 5% coupons.
Proceeds will be used to refund the county's series 1998 and series 2004 water and sewerage revenue bonds.
Issuer: | Fulton County, Ga.
|
Issue: | Series 2011 water and sewerage revenue refunding bonds
|
Amount: | $232,279,510
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. (lead); Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Rice Financial Products Co. and Sterne, Agee, Leach & Co.
|
Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
Pricing date: | Sept. 7
|
Settlement date: | Sept. 20
|
|
Amount | Maturity | Type | Coupon | Price
|
$5.5 million | 2013 | Serial | 5% | 105.962
|
$5.1 million | 2014 | Serial | 5% | 110.166
|
$2 million | 2015 | Serial | 2% | 104.042
|
$2.92 million | 2015 | Serial | 5% | 113.745
|
$2,000 | 2016 | Serial | 2% | 103.709
|
$12.65 million | 2016 | Serial | 5% | 116.216
|
$15,000 | 2017 | Serial | 2% | 102.836
|
$15.31 million | 2017 | Serial | 5% | 118.037
|
$760,000 | 2018 | Serial | 3% | 106.971
|
$15.33 million | 2018 | Serial | 5% | 118.789
|
$160,000 | 2019 | Serial | 3% | 105.629
|
$16.715 million | 2019 | Serial | 5% | 119.034
|
$150,000 | 2020 | Serial | 3% | 104.402
|
$17.57 million | 2020 | Serial | 5% | 119.333
|
$575,000 | 2021 | Serial | 3% | 103.277
|
$18.03 million | 2021 | Serial | 5% | 119.672
|
$550,000 | 2022 | Serial | 3% | 101.54
|
$18.97 million | 2022 | Serial | 5% | 117.777
|
$20.49 million | 2023 | Serial | 5% | 115.916
|
$21.505 million | 2024 | Serial | 5% | 113.832
|
$17,510 | 2025 | Serial | 5% | 112.383
|
$18.385 million | 2026 | Serial | 5% | 111.374
|
$19.305 million | 2027 | Serial | 5% | 110.79
|
$20.27 million | 2028 | Serial | 5% | 110.044
|
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