By Cristal Cody
Springdale, Ark., May 7 - Horry County, S.C., priced $62 million general obligation bonds with a 3.99395% true interest cost, a bond counsel source said Wednesday.
The series 2008 bonds priced with 4% to 5% coupons to yield 2% to 4.56%.
The bonds (Aa3/AA/AA-) have serial maturities from 2009 through 2028.
Morgan Stanley & Co. Inc. was the winning bidder in the competitive sale.
Proceeds will be used to construct and expand the county's libraries, recreation centers and detention center.
| Issuer: | Horry County, S.C.
|
| Issue: | General obligation bonds
|
| Amount: | $62 million
|
| Type: | Competitive
|
| True interest cost: | 3.99395%
|
| Coupon: | 4% to 5%
|
| Yield: | 2% to 4.56%
|
| Maturities: | 2009 to 2028
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | May 6
|
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