Published on 6/5/2012 in the Prospect News Municipals Daily.
New Issue: Anne Arundel County, Md., prices $182.27 million of G.O. bonds
By Sheri Kasprzak
New York, June 5 - Anne Arundel County, Md., sold $182.27 million of series 2012 general obligation bonds, said a pricing sheet.
The bonds (Aa1) were sold competitively. The issuer did not return calls for the winning bidder by press time on Tuesday.
The deal included $102.4 million of series 2012 consolidated general improvement bonds, $27.02 million of series 2012 consolidated water and sewer bonds, $36,965,000 of series 2012 general improvement refunding bonds and $15,885,000 of series 2012 water and sewer refunding bonds.
The 2012 consolidated general improvement bonds are due 2013 to 2032 with 3% to 5% coupons. The 2012 consolidated water and sewer bonds are due 2013 to 2032 with term bonds due in 2037 and 2042. The serial coupons range from 2% to 4%. The 2037 bonds have a 3.625% coupon priced at 97.989 and the 2042 bonds have a 3.75% coupon priced at 99.108. The 2012 general improvement refunding bonds are due 2013 to 2025 with 3% to 5% coupons. The 2012 water and sewer refunding bonds are due 2013 to 2032 with coupons from 2% to 5%.
Proceeds will be used to retire the county's series A bond anticipation notes and fund general improvements, including general county, storm drains, education, roads and bridges, community college, recreation and parks, waterway improvements and solid waste projects.
| Issuer: | Anne Arundel County, Md.
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $182.27 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Pricing date: | June 5
|
| Settlement date: | June 14
|
|
|
| $102.4 million series 2012 consolidated general improvement bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.14 million | 2013 | Serial | 3% | 102.245
|
| $6.14 million | 2014 | Serial | 4% | 106.533
|
| $6.14 million | 2015 | Serial | 4% | 109.709
|
| $6.14 million | 2016 | Serial | 5% | 116.534
|
| $6.14 million | 2017 | Serial | 5% | 119.831
|
| $6.14 million | 2018 | Serial | 5% | 122.41
|
| $6.14 million | 2019 | Serial | 5% | 124.583
|
| $6.14 million | 2020 | Serial | 5% | 125.913
|
| $6.14 million | 2021 | Serial | 5% | 126.949
|
| $6.14 million | 2022 | Serial | 5% | 128.208
|
| $4.1 million | 2023 | Serial | 5% | 126.67
|
| $4.1 million | 2024 | Serial | 5% | 125.254
|
| $4.1 million | 2025 | Serial | 5% | 124.055
|
| $4.1 million | 2026 | Serial | 5% | 123.263
|
| $4.1 million | 2027 | Serial | 5% | 122.478
|
| $4.1 million | 2028 | Serial | 3% | 98.386
|
| $4.1 million | 2029 | Serial | 3% | 97.413
|
| $4.1 million | 2030 | Serial | 3.125% | 97.655
|
| $4.1 million | 2031 | Serial | 3.25% | 97.925
|
| $4.1 million | 2032 | Serial | 3.375% | 98.927
|
|
|
| $27.02 million series 2012 consolidated water and sewer bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $900,000 | 2013 | Serial | 2% | 101.433
|
| $905,000 | 2014 | Serial | 3% | 104.614
|
| $905,000 | 2015 | Serial | 4% | 109.562
|
| $905,000 | 2016 | Serial | 4% | 112.584
|
| $905,000 | 2017 | Serial | 4% | 114.877
|
| $900,000 | 2018 | Serial | 4% | 116.67
|
| $900,000 | 2019 | Serial | 4% | 117.936
|
| $900,000 | 2020 | Serial | 4% | 118.41
|
| $900,000 | 2021 | Serial | 4% | 118.627
|
| $900,000 | 2022 | Serial | 4% | 119.083
|
| $900,000 | 2023 | Serial | 3% | 107.014
|
| $900,000 | 2024 | Serial | 3% | 104.318
|
| $900,000 | 2025 | Serial | 3% | 102.565
|
| $900,000 | 2026 | Serial | 3% | 100.844
|
| $900,000 | 2027 | Serial | 3% | 99.405
|
| $900,000 | 2028 | Serial | 3% | 98.386
|
| $900,000 | 2029 | Serial | 3% | 97.413
|
| $900,000 | 2030 | Serial | 3.125% | 97.655
|
| $900,000 | 2031 | Serial | 3.25% | 97.925
|
| $900,000 | 2032 | Serial | 3.375% | 98.927
|
| $4.5 million | 2037 | Term | 3.625% | 97.989
|
| $4.5 million | 2042 | Term | 3.75% | 99.108
|
|
|
| $36,965,000 series 2012 general improvement refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10,000 | 2013 | Serial | 2% | 101.272
|
| $10,000 | 2014 | Serial | 2% | 102.643
|
| $1.79 million | 2015 | Serial | 5% | 112.334
|
| $1.75 million | 2016 | Serial | 5% | 116.329
|
| $3.94 million | 2017 | Serial | 5% | 119.57
|
| $3,905,000 | 2018 | Serial | 5% | 122.284
|
| $3.89 million | 2019 | Serial | 5% | 124.435
|
| $3.91 million | 2020 | Serial | 5% | 125.745
|
| $3.93 million | 2021 | Serial | 5% | 126.762
|
| $3,945,000 | 2022 | Serial | 5% | 128.001
|
| $3,965,000 | 2023 | Serial | 3% | 107.838
|
| $3.97 million | 2024 | Serial | 4% | 116.262
|
| $1.95 million | 2025 | Serial | 4% | 115.117
|
|
|
| $15,885,000 series 2012 water and sewer refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10,000 | 2013 | Serial | 2% | 101.272
|
| $10,000 | 2014 | Serial | 2% | 102.643
|
| $370,000 | 2015 | Serial | 3% | 106.503
|
| $360,000 | 2016 | Serial | 3% | 108.446
|
| $1,195,000 | 2017 | Serial | 5% | 119.57
|
| $1,185,000 | 2018 | Serial | 5% | 122.284
|
| $1.18 million | 2019 | Serial | 5% | 124.435
|
| $1.19 million | 2020 | Serial | 5% | 125.745
|
| $1,195,000 | 2021 | Serial | 5% | 126.762
|
| $1,205,000 | 2022 | Serial | 5% | 128.001
|
| $1.21 million | 2023 | Serial | 5% | 126.466
|
| $1,215,000 | 2024 | Serial | 5% | 125.053
|
| $1.22 million | 2025 | Serial | 5% | 123.856
|
| $1.23 million | 2026 | Serial | 5% | 123.066
|
| $1,235,000 | 2027 | Serial | 4% | 110.849
|
| $380,000 | 2028 | Serial | 3% | 98.755
|
| $380,000 | 2029 | Serial | 3% | 97.413
|
| $375,000 | 2030 | Serial | 3.25% | 98.006
|
| $370,000 | 2031 | Serial | 3.5% | 100
|
| $370,000 | 2032 | Serial | 3.5% | 98.868
|
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