Published on 5/5/2016 in the Prospect News Municipals Daily.
New Issue: Horry County, S.C., brings $125 million of general obligation bonds
By Sheri Kasprzak
New York, May 5 – Horry County, S.C., priced $125 million of series 2016A general obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA) were sold through BofA Merrill Lynch.
The bonds are due 2019 to 2025 with 5% coupons and yields from 0.83% to 1.61%.
Proceeds will be used to fund a portion of the county school district’s short-term capital plan, including constructing and equipping five new school facilities, repairs and renovations to existing schools, land acquisition, technology purchases and capital maintenance.
| Issuer: | Horry County, S.C.
|
| Issue: | Series 2016A general obligation bonds
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| Amount: | $125 million
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| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Moody’s: Aa1
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| S&P: AA
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| Pricing date: | April 26
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| Settlement date: | May 24
|
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $15,295,000 | 2019 | Serial | 5% | 111.392 | 0.83%
|
| $16,075,000 | 2020 | Serial | 5% | 114.919 | 0.96%
|
| $16.9 million | 2021 | Serial | 5% | 118.122 | 1.09%
|
| $17.77 million | 2022 | Serial | 5% | 120.871 | 1.24%
|
| $18.68 million | 2023 | Serial | 5% | 123.389 | 1.37%
|
| $19,635,000 | 2024 | Serial | 5% | 125.492 | 1.51%
|
| $20,645,000 | 2025 | Serial | 5% | 127.619 | 1.61%
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