By Cristal Cody
Springdale, Ark., May 20 - The Metropolitan District of Hartford County, Conn., priced $80 million general obligation bonds with a 3.8267% true interest cost on Tuesday, according to the issuer's financial adviser.
The series 2008 bonds (Aa2/AA+/) priced with 3.125% to 4.125% coupons to yield 1.8% in 2009 to 4.25% in 2028, said Janette Marcoux, senior vice president of First Southwest Co.
Citigroup Global Markets was the successful bidder in the competitive sale.
Proceeds will be used to refund $63.825 million bond anticipation notes that mature on June 12, 2008 and provide funds for sewer, water and pubic improvement projects.
| Issuer: | Metropolitan District of Hartford County, Conn.
|
| Issue: | General obligation bonds
|
| Amount: | $80 million
|
| Type: | Competitive
|
| True interest cost: | 3.8267%
|
| Coupons: | 3.125% to 4.125%
|
| Yields: | 1.8% to 4.25%
|
| Maturities: | 2009-2028
|
| Underwriter: | Citigroup Global Markets
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Pricing date: | May 20
|
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