Published on 2/19/2013 in the Prospect News Municipals Daily.
New Issue: Harford County, Md., brings $114.66 million of general obligation bonds
By Sheri Kasprzak
New York, Feb. 19 - Harford County, Md., sold $114.66 million of series 2013 general obligation bonds, according to a pricing sheet.
The offering included $40 million of series 2013A G.O. bonds and $74.66 million of series 2013B G.O. refunding bonds.
The 2013A bonds are due 2014 to 2033 with 3% to 5% coupons.
The 2013B bonds are due 2014 to 2028 with 2% to 5% coupons.
The bonds (Aaa//AAA) were sold competitively with J.P. Morgan Securities LLC winning the bid for the 2013A bonds at a 2.515324% true interest cost and Citigroup Global Markets Inc. winning the bid for the 2013B bonds at a 1.956788% TIC.
Proceeds will be used to finance general county improvement projects and water and sewer projects for the county, as well as refund debt.
| Issuer: | Harford County, Md.
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $114.66 million
|
| Type: | Competitive
|
| Underwriters: | J.P. Morgan Securities LLC (for 2013A), Citigroup Global Markets Inc. (for 2013B)
|
| TIC: | 2.515324% (for 2013A), 1.956788% (for 2013B)
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Pricing date: | Feb. 19
|
| Settlement date: | March 5
|
|
|
| $40 million series 2013A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.87 million | 2014 | Serial | 3% | 102.55
|
| $1.85 million | 2015 | Serial | 4% | 106.985
|
| $1.86 million | 2016 | Serial | 5% | 113.025
|
| $1,875,000 | 2017 | Serial | 5% | 116.832
|
| $1.89 million | 2018 | Serial | 5% | 119.844
|
| $1,905,000 | 2019 | Serial | 5% | 122.303
|
| $1,925,000 | 2020 | Serial | 5% | 124.136
|
| $1.94 million | 2021 | Serial | 5% | 125.659
|
| $1.96 million | 2022 | Serial | 5% | 126.974
|
| $1,975,000 | 2023 | Serial | 3% | 109.888
|
| $1,995,000 | 2024 | Serial | 3% | 106.9
|
| $2,015,000 | 2025 | Serial | 3% | 105.079
|
| $2,035,000 | 2026 | Serial | 3% | 103.294
|
| $2.06 million | 2027 | Serial | 3% | 101.631
|
| $2.08 million | 2028 | Serial | 3% | 100.768
|
| $2,105,000 | 2029 | Serial | 3.5% | 105.839
|
| $2,125,000 | 2030 | Serial | 3.5% | 105.308
|
| $2.15 million | 2031 | Serial | 3.5% | 104.868
|
| $2.18 million | 2032 | Serial | 3.5% | 104.429
|
| $2,205,000 | 2033 | Serial | 3.5% | 103.993
|
|
|
| $74.66 million series 2013B G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $515,000 | 2014 | Serial | 2% | 101.627
|
| $225,000 | 2015 | Serial | 2% | 103.188
|
| $230,000 | 2016 | Serial | 2% | 104.38
|
| $2,385,000 | 2017 | Serial | 4% | 113.021
|
| $2,365,000 | 2018 | Serial | 4% | 115.206
|
| $9.42 million | 2019 | Serial | 5% | 122.624
|
| $9.33 million | 2020 | Serial | 5% | 124.509
|
| $8,835,000 | 2021 | Serial | 5% | 126.083
|
| $8.83 million | 2022 | Serial | 5% | 127.447
|
| $8.1 million | 2023 | Serial | 5% | 128.389
|
| $7,025,000 | 2024 | Serial | 3% | 106.9
|
| $6.64 million | 2025 | Serial | 3% | 105.079
|
| $5,285,000 | 2026 | Serial | 3% | 103.294
|
| $3.41 million | 2027 | Serial | 3% | 101.631
|
| $2,065,000 | 2028 | Serial | 3% | 100.168
|
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