Published on 4/10/2013 in the Prospect News Municipals Daily.
New Issue: Hamilton County, Tenn., sells $105.69 million G.O. bonds
By Sheri Kasprzak
New York, April 10 - Hamilton County, Tenn., priced $105.69 million of series 2013 general obligation bonds, according to a pricing sheet.
The offering included $60.61 million of series 2013A bonds and $45.08 million of series 2013B bonds.
The 2013A bonds are due 2014 to 2028 with 2% to 4% coupons.
The 2013B bonds are due 2014 to 2023 with 2% to 4% coupons.
The bonds (Aaa/AAA/AAA) were sold competitively. The issuer did not immediately return calls for the winning bidder Wednesday.
Proceeds will be used to pay the principal outstanding of the county's commercial paper bond anticipation notes, to provide funds for the payment or reimbursement of school and governmental projects and to refund a portion of the county's series 2008 G.O. bonds.
| Issuer: | Hamilton County, Tenn.
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $105.69 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | April 10
|
| Settlement date: | April 24
|
|
|
| $60.61 million series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,045,000 | 2014 | Serial | 3% | 102.34
|
| $4,045,000 | 2015 | Serial | 4% | 106.734
|
| $4.04 million | 2016 | Serial | 4% | 109.99
|
| $4.04 million | 2017 | Serial | 4% | 112.888
|
| $4.04 million | 2018 | Serial | 4% | 115.2
|
| $4.04 million | 2019 | Serial | 4% | 117.012
|
| $4.04 million | 2020 | Serial | 4% | 118.221
|
| $4.04 million | 2021 | Serial | 4% | 119.024
|
| $4.04 million | 2022 | Serial | 4% | 117.481
|
| $4.04 million | 2023 | Serial | 2% | 100
|
| $4.04 million | 2024 | Serial | 2.125% | 99.757
|
| $4.04 million | 2025 | Serial | 2.25% | 99.482
|
| $4.04 million | 2026 | Serial | 2.375% | 98.631
|
| $4.04 million | 2027 | Serial | 2.5% | 98.497
|
| $4.04 million | 2028 | Serial | 2.75% | 99.393
|
|
|
| $45.08 million series 2013B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $575,000 | 2014 | Serial | 2% | 101.532
|
| $345,000 | 2015 | Serial | 2% | 103.157
|
| $350,000 | 2016 | Serial | 2% | 104.388
|
| $6,395,000 | 2017 | Serial | 4% | 113.011
|
| $6.35 million | 2018 | Serial | 4% | 115.355
|
| $6.3 million | 2019 | Serial | 4% | 117.26
|
| $6,255,000 | 2020 | Serial | 4% | 118.582
|
| $6.2 million | 2021 | Serial | 4% | 119.269
|
| $6.19 million | 2022 | Serial | 3% | 110.381
|
| $6.12 million | 2023 | Serial | 3% | 109.651
|
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