New Issue: Anne Arundel County, Md., sells $206.1 million general obligation bonds

By Sheri Kasprzak

New York, March 25 - Anne Arundel County, Md., sold $206.1 million of series 2014 general obligation bonds, according to a pricing sheet.

The bonds were sold competitively, but the issuer did not immediately respond to queries for the winning bidder Tuesday.

The deal included $126.9 million of series 2014 consolidated public improvement bonds and $79.2 million of series 2014 consolidated water and sewer bonds.

The public improvement bonds are due 2015 to 2034 with 3% to 5% coupons and 0.14% to 3.86% yields.

The water and sewer bonds are due 2015 to 2036 with term bonds due in 2038, 2039 and 2044. The serial coupons range from 3% to 5% with yields from 0.14% to 3.98%. The 2038 bonds have a 4% coupon priced at par and the 2039 bonds have a 4% coupon priced at 99.529 to yield 4.03%. The 2044 bonds have a 4.5% coupon priced at 105.35 to yield 3.85%.

Proceeds will be used to finance capital improvements, including water and sewer improvements, as well as to retire bond anticipation notes.

Issuer:	Anne Arundel County, Md.
Issue:	Series 2014 general obligation bonds
Amount:	$206.1 million
Type:	Competitive
Pricing date:	March 25
Settlement date:	April 3
$126.9 million series 2014 consolidated public improvement bonds
Amount	Maturity	Type	Coupon	Price	Yield
$7,615,000	2015	Serial	5%	104.827	0.14%
$7,615,000	2016	Serial	5%	109.023	0.45%
$7,615,000	2017	Serial	5%	112.434	0.79%
$7,615,000	2018	Serial	5%	115.115	1.12%
$7,615,000	2019	Serial	5%	117.149	1.43%
$7,615,000	2020	Serial	5%	118.106	1.80%
$7,615,000	2021	Serial	5%	118.773	2.10%
$7,615,000	2022	Serial	5%	119.614	2.30%
$7,615,000	2023	Serial	5%	120.293	2.47%
$7,615,000	2024	Serial	5%	121.101	2.59%
$5,075,000	2025	Serial	5%	120.029	2.70%
$5,075,000	2026	Serial	5%	118.967	2.81%
$5,075,000	2027	Serial	3%	98.41	3.15%
$5,075,000	2028	Serial	3.25%	98.614	3.375%
$5,075,000	2029	Serial	3.375%	98.551	3.50%
$5,075,000	2030	Serial	5%	115.016	3.23%
$5,075,000	2031	Serial	4%	102.739	3.67%
$5,075,000	2032	Serial	4%	102.151	3.74%
$5,075,000	2033	Serial	4%	101.566	3.81%
$5,075,000	2034	Serial	4%	101.151	3.86%
$79.2 million series 2014 consolidated water and sewer bonds
Amount	Maturity	Type	Coupon	Price	Yield
$2.64 million	2015	Serial	5%	104.827	0.14%
$2.64 million	2016	Serial	5%	109.023	0.45%
$2.64 million	2017	Serial	5%	112.434	0.79%
$2.64 million	2018	Serial	5%	115.115	1.12%
$2.64 million	2019	Serial	5%	117.149	1.43%
$2.64 million	2020	Serial	5%	118.106	1.80%
$2.64 million	2021	Serial	5%	118.773	2.10%
$2.64 million	2022	Serial	5%	119.614	2.30%
$2.64 million	2023	Serial	5%	120.293	2.47%
$2.64 million	2024	Serial	5%	121.101	2.59%
$2.64 million	2025	Serial	5%	120.029	2.70%
$2.64 million	2026	Serial	4%	109.393	2.91%
$2.64 million	2027	Serial	3%	98.41	3.15%
$2.64 million	2028	Serial	3.25%	98.614	3.375%
$2.64 million	2029	Serial	3.5%	100	3.50%
$2.64 million	2030	Serial	3.75%	100	3.75%
$2.64 million	2031	Serial	3.75%	99.378	3.80%
$2.64 million	2032	Serial	4%	102.151	3.74%
$2.64 million	2033	Serial	4%	101.566	3.81%
$2.64 million	2034	Serial	4%	101.151	3.86%
$2.64 million	2035	Serial	4%	100.82	3.90%
$2.64 million	2036	Serial	4%	100.163	3.98%
$5.28 million	2038	Term	4%	100	4.00%
$2.64 million	2039	Term	4%	99.529	4.03%
$13.2 million	2044	Term	4.5%	105.35	3.85%

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