Published on 4/21/2015 in the Prospect News Municipals Daily.
New Issue: Hamilton County, Tenn., brings to market $90.18 million of G.O. bonds
By Sheri Kasprzak
New York, April 21 – Hamilton County, Tenn., priced $90.18 million of series 2015 general obligation bonds, said a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold competitively.
The deal included $60 million of series 2015A G.O. bonds and $30.18 million of series 2015B G.O. refunding bonds.
The 2015A bonds are due 2016 to 2030 with 5% coupons and 0.25% to 2.45% yields.
The 2015B bonds are due 2019 to 2025 with 2% to 5% coupons and 1.10% to 2.00% yields.
Proceeds will be used to pay off bond anticipation notes; to construct, equip, improve and renovate school and other governmental facilities and to refund the county’s series 2009 and 2011A G.O. bonds.
| Issuer: | Hamilton County, Tenn.
|
| Issue: | Series 2015 general obligation and refunding bonds
|
| Amount: | $90.18 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Fitch: AAA
|
| Pricing date: | April 21
|
| Settlement date: | May 7
|
|
|
| $60 million series 2015A general obligation bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4 million | 2016 | Serial | 5% | 104.662 | 0.25%
|
| $4 million | 2017 | Serial | 5% | 108.765 | 0.55%
|
| $4 million | 2018 | Serial | 5% | 112.199 | 0.85%
|
| $4 million | 2019 | Serial | 5% | 115.158 | 1.10%
|
| $4 million | 2020 | Serial | 5% | 117.956 | 1.27%
|
| $4 million | 2021 | Serial | 5% | 120.465 | 1.42%
|
| $4 million | 2022 | Serial | 5% | 122.306 | 1.61%
|
| $4 million | 2023 | Serial | 5% | 124.116 | 1.75%
|
| $4 million | 2024 | Serial | 5% | 122.945 | 1.89%
|
| $4 million | 2025 | Serial | 5% | 121.786 | 2.03%
|
| $4 million | 2026 | Serial | 5% | 120.804 | 2.15%
|
| $4 million | 2027 | Serial | 5% | 119.992 | 2.25%
|
| $4 million | 2028 | Serial | 5% | 119.588 | 2.30%
|
| $4 million | 2029 | Serial | 5% | 118.786 | 2.40%
|
| $4 million | 2030 | Serial | 5% | 118.388 | 2.45%
|
|
|
| $30.18 million series 2015B general obligation refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.95 million | 2019 | Serial | 2% | 103.354 | 1.10%
|
| $1.91 million | 2020 | Serial | 5% | 117.474 | 1.25%
|
| $1,925,000 | 2021 | Serial | 5% | 120.04 | 1.40%
|
| $6,245,000 | 2022 | Serial | 5% | 121.944 | 1.59%
|
| $6.48 million | 2023 | Serial | 5% | 123.809 | 1.73%
|
| $6,725,000 | 2024 | Serial | 4% | 117.236 | 1.87%
|
| $4,945,000 | 2025 | Serial | 4% | 117.743 | 2.00%
|
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