By Cristal Cody
Tupelo, Miss., Oct. 28 - Hennepin County in Minnesota priced $63.335 million general obligation bonds with a 4.65% true interest cost on Tuesday, a market source told Prospect News.
The series 2008D bonds (Aaa/AAA/AAA) priced with 4% to 5% coupons. The yields were not available.
The sale included $50 million in new money bonds and $13.335 million in refunding bonds.
The bonds have serial maturities from 2009 through 2028.
Piper Jaffray was the winning bidder out of six bids in the competitive sale.
The proceeds will be used for library and capital improvements and to refund the callable maturities from the series 1998B general obligation bonds.
| Issuer: | Hennepin County, Minnesota
|
| Issue: | Series 2008D general obligation bonds
|
| Amount: | $63.335 million
|
| Type: | Competitive
|
| True interest cost: | 4.65%
|
| Coupons: | 4%-5%
|
| Maturities: | 2009-2028
|
| Underwriter: | Piper Jaffray
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 10
|
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