Published on 3/18/2014 in the Prospect News Municipals Daily.
New Issue: Howard County, Md., prices $140.72 million of general obligation bonds
By Sheri Kasprzak
New York, March 18 - Howard County, Md., sold $140,715,000 of series 2014 general obligation bonds, according to a pricing sheet.
The deal included $117.16 million of series 2014A tax-exempt consolidated public improvement project and refunding bonds, $1.5 million of series 2014B taxable consolidated public improvement bonds and $22,055,000 of series 2014A metropolitan district project and refunding bonds.
The 2014A tax-exempt consolidated public improvement bonds are due 2015 to 2034 with 3% to 5% coupons.
The 2014B taxable consolidated bonds are due Feb. 15, 2015 and have a 1% coupon priced at 100.648 to yield 0.25%.
The 2014A metropolitan district bonds are due 2015 to 2039 with a term bond due in 2044. The serial coupons range from 2% to 4% with yields from 0.25% to 3.83%. The 2044 bonds have a 3.8% coupon priced at 98.588 to yield 3.88%.
The bonds (Aaa/AAA/AAA) were sold competitively. The issuer did not immediately respond to calls requesting the winning bidder.
Proceeds will be used to reimburse the county for certain capital projects and refund existing G.O. bonds and notes.
| Issuer: | Howard County, Md.
|
| Issue: | Series 2014 general obligation bonds
|
| Amount: | $140,715,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | March 18
|
| Settlement date: | April 3
|
|
|
| $117.16 million series 2014A tax-exempt consolidated public improvement project and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.32 million | 2015 | Serial | 5% | 104.189
|
| $3,365,000 | 2016 | Serial | 5% | 108.761
|
| $3,535,000 | 2017 | Serial | 5% | 112.944
|
| $3,975,000 | 2018 | Serial | 5% | 116.166
|
| $4,315,000 | 2019 | Serial | 5% | 118.691
|
| $4,465,000 | 2020 | Serial | 5% | 119.894
|
| $9.15 million | 2021 | Serial | 5% | 120.58
|
| $9,515,000 | 2022 | Serial | 5% | 121.005
|
| $9,425,000 | 2023 | Serial | 5% | 119.882
|
| $4,975,000 | 2024 | Serial | 5% | 118.771
|
| $5,175,000 | 2025 | Serial | 5% | 118.141
|
| $5.38 million | 2026 | Serial | 3% | 100.696
|
| $5,595,000 | 2027 | Serial | 3% | 99.048
|
| $5.82 million | 2028 | Serial | 3.125% | 99.162
|
| $6,055,000 | 2029 | Serial | 3.25% | 99.297
|
| $6,295,000 | 2030 | Serial | 4% | 104.812
|
| $6,545,000 | 2031 | Serial | 4% | 104.177
|
| $6.81 million | 2032 | Serial | 4% | 103.618
|
| $7.08 million | 2033 | Serial | 4% | 103.131
|
| $7,365,000 | 2034 | Serial | 4% | 102.784
|
|
|
| $1.5 million series 2014B taxable consolidated public improvement bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| Feb. 15, 2015 | Term | 1% | 100.648 | 0.25%
|
|
|
| $22,055,000 series 2014A metropolitan district project and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $805,000 | 2015 | Serial | 2% | 101.513 | 0.25%
|
| $1,195,000 | 2016 | Serial | 2% | 103.161 | 0.30%
|
| $1.34 million | 2017 | Serial | 2% | 104.263 | 0.50%
|
| $1,385,000 | 2018 | Serial | 2% | 104.559 | 0.80%
|
| $1.04 million | 2019 | Serial | 2% | 104.252 | 1.10%
|
| $1.06 million | 2020 | Serial | 3% | 108.568 | 1.47%
|
| $905,000 | 2021 | Serial | 3% | 107.583 | 1.82%
|
| $795,000 | 2022 | Serial | 4% | 113.631 | 2.11%
|
| $650,000 | 2023 | Serial | 3% | 105.009 | 2.30%
|
| $560,000 | 2024 | Serial | 3% | 103.911 | 2.45%
|
| $440,000 | 2025 | Serial | 3% | 101.755 | 2.75%
|
| $455,000 | 2026 | Serial | 3% | 100.696 | 2.90%
|
| $470,000 | 2027 | Serial | 3% | 99.468 | 3.05%
|
| $485,000 | 2028 | Serial | 3.1% | 99.439 | 3.15%
|
| $500,000 | 2029 | Serial | 3.125% | 98.533 | 3.25%
|
| $515,000 | 2030 | Serial | 3.25% | 98.774 | 3.35%
|
| $530,000 | 2031 | Serial | 3.375% | 99.044 | 3.45%
|
| $550,000 | 2032 | Serial | 3.5% | 99.339 | 3.55%
|
| $570,000 | 2033 | Serial | 3.5% | 98.636 | 3.60%
|
| $585,000 | 2034 | Serial | 3.625% | 99.645 | 3.65%
|
| $610,000 | 2035 | Serial | 3.625% | 98.912 | 3.70%
|
| $630,000 | 2036 | Serial | 3.7% | 99.255 | 3.75%
|
| $655,000 | 2037 | Serial | 3.75% | 99.691 | 3.77%
|
| $680,000 | 2038 | Serial | 3.75% | 99.216 | 3.80%
|
| $705,000 | 2039 | Serial | 3.8% | 99.518 | 3.83%
|
| $3.94 million | 2044 | Term | 3.8% | 98.588 | 3.88%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
