Published on 3/20/2014 in the Prospect News Municipals Daily.
New Issue: Henrico County, Va., brings $74.17 million of water, sewer revenue debt
By Sheri Kasprzak
New York, March 20 - Henrico County, Va., priced $74,165,000 of series 2014 water and sewer system revenue bonds, said a pricing sheet.
The bonds were sold through Raymond James/Morgan Keegan, Davenport & Co. LLC and Wells Fargo Securities LLC.
The bonds are due 2015 to 2035 with term bonds due in 2039 and 2044. The serial coupons range from 1% to 5% with 0.18% to 3.71% yields. The 2039 bonds have a 4% coupon priced at 99.527 to yield 4.03%, and the 2044 bonds have a 4.125% coupon priced at par.
Proceeds will be used to finance renovations and maintenance for the county's water and sewer system.
| Issuer: | Henrico County, Va.
|
| Issue: | Series 2014 water and sewer system revenue bonds
|
| Amount: | $74,165,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan, Davenport & Co. LLC and Wells Fargo Securities LLC (lead)
|
| Pricing date: | March 20
|
| Settlement date: | April 10
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,315,000 | 2015 | Serial | 2% | 101.923 | 0.18%
|
| $1,505,000 | 2016 | Serial | 1% | 101.435 | 0.3%
|
| $1.15 million | 2017 | Serial | 3% | 107.483 | 0.53%
|
| $370,000 | 2017 | Serial | 5% | 113.542 | 0.53%
|
| $1.57 million | 2018 | Serial | 1.5% | 102.708 | 0.82%
|
| $1,595,000 | 2019 | Serial | 1.5% | 101.714 | 1.15%
|
| $1.62 million | 2020 | Serial | 3% | 108.473 | 1.53%
|
| $1,665,000 | 2021 | Serial | 3.5% | 110.382 | 1.92%
|
| $1,725,000 | 2022 | Serial | 5% | 120.489 | 2.21%
|
| $1.81 million | 2023 | Serial | 5% | 120.872 | 2.42%
|
| $1.9 million | 2024 | Serial | 4% | 112.508 | 2.58%
|
| $1.98 million | 2025 | Serial | 4% | 111.196 | 2.72%
|
| $2.06 million | 2026 | Serial | 3% | 100 | 3%
|
| $2.12 million | 2027 | Serial | 3% | 98.719 | 3.12%
|
| $2,185,000 | 2028 | Serial | 4% | 107.188 | 3.16%
|
| $2.27 million | 2029 | Serial | 4% | 106.212 | 3.27%
|
| $2.36 million | 2030 | Serial | 4% | 105.335 | 3.37%
|
| $2,455,000 | 2031 | Serial | 4% | 104.552 | 3.46%
|
| $2,555,000 | 2032 | Serial | 4% | 103.862 | 3.54%
|
| $2,655,000 | 2033 | Serial | 4% | 103.263 | 3.61%
|
| $2.76 million | 2034 | Serial | 4% | 102.837 | 3.66%
|
| $2,875,000 | 2035 | Serial | 4% | 102.414 | 3.71%
|
| $12,685,000 | 2039 | Term | 4% | 99.527 | 4.03%
|
| $18.98 million | 2044 | Term | 4.125% | 100 | 4.125%
|
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