By Aaron Hochman-Zimmerman
New York, Feb. 20 - The County of Henrico in Virginia priced $70.36 million series 2009 water and sewer system refunding revenue bonds (Aa2/AAA/AAA) on Thursday, according to a statement of sale.
The bonds due from 2009 to 2028 brought yields between 0.55% and 4.48%.
The bonds due from 2020 to 2027 are callable from May 1, 2019.
Morgan Keegan & Co. Inc. and Davenport & Co. LLC acted as underwriters for the negotiated sale.
Proceeds from the sale will be used to refund $71.965 million in bonds with interest rates between 4.2% and 5.0%.
Richmond, Va., is the Henrico County seat.
Issuer: County of Henrico
Issue: Series 2009 water and sewer system refunding revenue bonds
| Amount: | $70.36 million
|
| Type: | Negotiated
|
| Yield range: | 0.55% to 4.48%.
|
| Underwriters: | Morgan Keegan & Co. Inc., Davenport & Co. LLC
|
| Pricing date: | Feb. 19
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Maturity | Amount | Coupon | Yield
|
| 2009 | $315,000 | 3.000% | 0.55%
|
| 2010 | $2.455 million | 2.500% | 0.70%
|
| 2011 | $2.845 million | 2.500% | 1.27%
|
| 2012 | $4.945 million | 4.000% | 1.44%
|
| 2013 | $5.065 million | 4.000% | 1.64%
|
| 2014 | $4.275 million | 2.250% | 1.93%
|
| 2015 | $2.685 million | 5.000% | 2.11%
|
| 2016 | $2.820 million | 2.500% | 2.26%
|
| 2017 | $2.890 million | 2.750% | 2.47%
|
| 2018 | $2.965 million | 5.000% | 2.70%
|
| 2019 | $3.115 million | 5.000% | 2.95%
|
| 2020 | $3.275 million | 5.000% | 3.18%
|
| 2021 | $3.430 million | 5.000% | 3.46%
|
| 2022 | $3.600 million | 5.000% | 3.64%
|
| 2023 | $3.780 million | 5.000% | 3.82%
|
| 2024 | $3.965 million | 5.000% | 3.99%
|
| 2025 | $4.165 million | 5.000% | 4.10%
|
| 2026 | $4.380 million | 4.750% | 4.27%
|
| 2027 | $4.585 million | 4.750% | 4.38%
|
| 2028 | $4.805 million | 4.375% | 4.48%
|
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