New Issue: Anne Arundel County, Md., prices $279.93 million downsized G.O. bonds

By Sheri Kasprzak

New York, April 4 – Anne Arundel County, Md., priced $279.93 million of series 2016 general obligation bonds, said a pricing sheet. The offering was downsized from $285.13 million.

The deal included $93.26 million of series 2016 consolidated general improvement bonds, $43,585,000 of series 2016 consolidated water and sewer bonds, $73.5 million of series 2016 consolidated improvement refunding bonds and $69,585,000 of series 2016 consolidated water and sewer refunding bonds.

The consolidated improvement bonds are due 2016 to 2042 with a term bond due in 2045. The serial bonds have 5% coupons with yields from 0.5% to 2.75%. The 2045 bonds have a 5% coupon priced at 118.365 to yield 2.78%.

The water and sewer bonds are due 2016 to 2042 with a 2045 term bond. The serial coupons range from 3% to 5% with yields from 0.5% to 2.75%. The 2045 bonds have a 5% coupon priced at 118.365 to yield 2.78%.

The improvement refunding bonds are due 2016 to 2035 with coupons from 3% to 5% and yields from 0.54% to 3.1%.

The water and sewer refunding bonds are due 2016 to 2027 with coupons from 3% to 5% and yields from 0.54% to 2.2%.

The bonds (Aa1/AAA/) were sold competitively.

Proceeds will be used to finance capital improvements including water and sewer improvements and refund bonds.

Issuer:	Anne Arundel County, Md.
Issue:	Series 2016 general obligation bonds
Amount:	$279.93 million
Type:	Competitive
Ratings:	Moody’s: Aa1
	Standard & Poor’s: AAA
Pricing date:	March 29
Settlement date:	April 13
$93.26 million series 2016 consolidated general improvement bonds
Amount	Maturity	Type	Coupon	Price	Yield
$3,105,000	2016	Serial	5%	102.094	0.50%
$3.11 million	2017	Serial	5%	106.339	0.65%
$3.11 million	2018	Serial	5%	110.237	0.80%
$3.11 million	2019	Serial	5%	113.815	0.94%
$3.11 million	2020	Serial	5%	117.239	1.04%
$3.11 million	2021	Serial	5%	120.165	1.18%
$3.11 million	2022	Serial	5%	122.737	1.32%
$3.11 million	2023	Serial	5%	124.955	1.46%
$3.11 million	2024	Serial	5%	126.73	1.61%
$3.11 million	2025	Serial	5%	128.541	1.72%
$3.11 million	2026	Serial	5%	127.438	1.83%
$3.11 million	2027	Serial	5%	126.445	1.93%
$3.11 million	2028	Serial	5%	125.07	2.07%
$3.11 million	2029	Serial	5%	124.39	2.14%
$3.11 million	2030	Serial	5%	123.81	2.20%
$3.11 million	2031	Serial	5%	123.041	2.28%
$3.11 million	2032	Serial	5%	122.374	2.35%
$3.11 million	2033	Serial	5%	121.805	2.41%
$3.11 million	2034	Serial	5%	121.333	2.46%
$3.11 million	2035	Serial	5%	120.864	2.51%
$3.11 million	2036	Serial	5%	120.396	2.56%
$3.11 million	2037	Serial	5%	120.024	2.60%
$3.11 million	2038	Serial	5%	119.653	2.64%
$3,105,000	2039	Serial	5%	119.283	2.68%
$3,105,000	2040	Serial	5%	119.007	2.71%
$3,105,000	2041	Serial	5%	118.823	2.73%
$3,105,000	2042	Serial	5%	118.64	2.75%
$9,315,000	2045	Term	5%	118.365	2.78%
$43,585,000 series 2016 consolidated water and sewer bonds
Amount	Maturity	Type	Coupon	Price	Yield
$1.45 million	2016	Serial	3%	101.163	0.50%
$1.45 million	2017	Serial	3%	103.424	0.65%
$1,455,000	2018	Serial	5%	110.237	0.80%
$1,455,000	2019	Serial	5%	113.815	0.94%
$1,455,000	2020	Serial	5%	117.239	1.04%
$1,455,000	2021	Serial	5%	120.165	1.18%
$1,455,000	2022	Serial	5%	122.737	1.32%
$1,455,000	2023	Serial	5%	124.955	1.46%
$1,455,000	2024	Serial	5%	126.73	1.61%
$1,455,000	2025	Serial	5%	128.541	1.72%
$1,455,000	2026	Serial	5%	127.438	1.83%
$1,455,000	2027	Serial	5%	126.445	1.93%
$1,455,000	2028	Serial	5%	125.07	2.07%
$1,455,000	2029	Serial	5%	124.39	2.14%
$1,455,000	2030	Serial	5%	123.81	2.20%
$1,455,000	2031	Serial	5%	123.041	2.28%
$1,455,000	2032	Serial	5%	122.374	2.35%
$1,455,000	2033	Serial	5%	121.805	2.41%
$1,455,000	2034	Serial	5%	121.333	2.46%
$1.45 million	2035	Serial	5%	120.864	2.51%
$1.45 million	2036	Serial	5%	120.396	2.56%
$1.45 million	2037	Serial	5%	120.024	2.60%
$1.45 million	2038	Serial	5%	119.653	2.64%
$1.45 million	2039	Serial	5%	119.283	2.68%
$1.45 million	2040	Serial	5%	119.007	2.71%
$1.45 million	2041	Serial	5%	118.832	2.73%
$1.45 million	2042	Serial	5%	118.64	2.75%
$4.35 million	2045	Term	5%	118.365	2.78%
$73.5 million series 2016 consolidated improvement refunding bonds
Amount	Maturity	Type	Coupon	Price	Yield
$6,475,000	2016	Serial	5%	102.075	0.54%
$6,865,000	2017	Serial	5%	106.339	0.65%
$4,295,000	2018	Serial	5%	110.237	0.80%
$4.83 million	2019	Serial	5%	113.815	0.94%
$4,735,000	2020	Serial	5%	117.239	1.04%
$4,715,000	2021	Serial	5%	120.165	1.18%
$4.69 million	2022	Serial	5%	122.737	1.32%
$3.88 million	2023	Serial	5%	124.955	1.46%
$3.85 million	2024	Serial	5%	126.73	1.61%
$4,605,000	2025	Serial	5%	128.541	1.72%
$4.16 million	2026	Serial	5%	127.438	1.83%
$4.4 million	2027	Serial	3%	106.802	2.20%
$3.28 million	2028	Serial	3%	104.621	2.45%
$3,215,000	2029	Serial	3%	103.507	2.58%
$3,145,000	2030	Serial	3%	102.575	2.69%
$2,575,000	2031	Serial	3%	101.485	2.82%
$1.83 million	2032	Serial	3%	100.821	2.90%
$1,795,000	2033	Serial	3%	100	3.00%
$990,000	2034	Serial	3%	99.297	3.05%
$970,000	2035	Serial	3%	98.545	3.10%
$69,585,000 series 2016 consolidated water and sewer refunding bonds
Amount	Maturity	Type	Coupon	Price	Yield
$12.14 million	2016	Serial	5%	102.075	0.54%
$14,245,000	2017	Serial	5%	106.339	0.65%
$8,595,000	2018	Serial	5%	110.237	0.80%
$8.24 million	2019	Serial	5%	113.815	0.94%
$6.21 million	2020	Serial	5%	117.239	1.04%
$6,185,000	2021	Serial	5%	120.165	1.18%
$2.52 million	2022	Serial	5%	122.737	1.32%
$2,485,000	2023	Serial	5%	124.955	1.46%
$2,445,000	2024	Serial	5%	126.73	1.61%
$2.4 million	2025	Serial	5%	128.541	1.72%
$2,195,000	2026	Serial	4%	118.782	1.83%
$1,925,000	2027	Serial	3%	106.802	2.20%

© 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.