By Sheri Kasprzak
New York, Jan. 10 - Harford County of Maryland sold $64.58 million of series 2012 general obligation bonds on Tuesday, according to a pricing sheet.
The offering included $55 million of series 2012A G.O. bonds and $9.58 million of series 2012B G.O. refunding bonds.
The bonds (Aaa/AA+/AAA) were sold competitively with Robert W. Baird & Co. Inc. winning the 2012A bonds and Janney Montgomery Scott LLC winning the 2012B bonds. The true interest cost for the 2012A bonds was 2.595842%, and the TIC for the 2012B bonds was 1.616081%.
The 2012A bonds are due 2013 to 2032 with 2% to 5% coupons. The 2012B bonds are due 2013 to 2024 with 2% to 4% coupons.
Proceeds will be used to fund improvements to the county's water and sewer system, as well as to refund the county's series 2004 consolidated improvement bonds.
| Issuer: | Harford County, Md.
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $64.58 million
|
| Type: | Competitive
|
| Underwriters: | Robert W. Baird & Co. Inc. (winner for 2012A); Janney Montgomery Scott LLC (winner for 2012B)
|
| True interest costs: | 2.595842% (for 2012A); 1.616081% (for 2012B)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 19
|
|
|
| $55 million series 2012A
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.5 million | 2013 | Serial | 2% | 101.677
|
| $2.5 million | 2014 | Serial | 5% | 109.103
|
| $2.55 million | 2015 | Serial | 4% | 110.213
|
| $2.55 million | 2016 | Serial | 2% | 104.983
|
| $2.6 million | 2017 | Serial | 2% | 105.857
|
| $2.6 million | 2018 | Serial | 3% | 111.597
|
| $2.65 million | 2019 | Serial | 4% | 118.716
|
| $2.65 million | 2020 | Serial | 4% | 119.586
|
| $2.7 million | 2021 | Serial | 4% | 119.649
|
| $2.7 million | 2022 | Serial | 2% | 101.545
|
| $2.75 million | 2023 | Serial | 2.125% | 99.271
|
| $2.8 million | 2024 | Serial | 3% | 104.395
|
| $2.8 million | 2025 | Serial | 3% | 102.611
|
| $2.85 million | 2026 | Serial | 3% | 101.295
|
| $2.85 million | 2027 | Serial | 3% | 100
|
| $2.9 million | 2028 | Serial | 3% | 99.37
|
| $2.95 million | 2029 | Serial | 3% | 98.686
|
| $3 million | 2030 | Serial | 3% | 97.951
|
| $3 million | 2031 | Serial | 3.125% | 98.238
|
| $3.1 million | 2032 | Serial | 3.125% | 97.453
|
|
|
| $9.58 million series 2012B refunding bonds
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 2% | 101.727
|
| 2014 | Serial | 2% | 103.166
|
| 2015 | Serial | 2% | 104.292
|
| 2016 | Serial | 2% | 105.104
|
| 2017 | Serial | 3% | 110.738
|
| 2018 | Serial | 2% | 105.798
|
| 2019 | Serial | 3% | 112.032
|
| 2020 | Serial | 4% | 119.586
|
| 2021 | Serial | 2% | 102.997
|
| 2022 | Serial | 2% | 101.545
|
| 2023 | Serial | 2% | 98.538
|
| 2024 | Serial | 2.25% | 98.445
|
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