Published on 6/27/2014 in the Prospect News Municipals Daily.
New Issue: Monroe County, N.Y., prices $88.37 million of public improvement bonds
By Sheri Kasprzak
New York, June 27 – Monroe County, N.Y., sold $88,365,000 of series 2014 public improvement bonds and notes, said a pricing sheet.
The offering included $22.92 million of series 2014 public improvement bonds and $65,445,000 of series 2014 public improvement bond anticipation notes.
The bonds (/A/BBB+) were sold competitively. Roosevelt & Cross Inc. won the bonds, and TD Securities Inc. took the notes.
The bonds are due 2015 to 2034 with 2.5% to 5% coupons and 0.40% to 3.65% yields.
The notes are due July 1, 2015 and have a 1% coupon priced at 100.446 to yield 0.55%.
Proceeds will be used to finance capital improvements, as well as to redeem the county’s BANs due July 9, 2014.
| Issuer: | Monroe County, N.Y.
|
| Issue: | Series 2014 public improvement bonds and bond anticipation notes
|
| Amount: | $88,365,000
|
| Type: | Competitive
|
| Underwriters: | Roosevelt & Cross Inc. (winner for 2014 public improvement bonds), TD Securities Inc. (winner for 2014 public improvement bond anticipation notes)
|
| Ratings: | Standard & Poor’s: A
|
| Fitch: BBB+
|
| Pricing date: | June 26
|
| Settlement date: | July 2
|
|
|
| $22.92 million series 2014 public improvement bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $740,000 | 2015 | Serial | 3.25% | 102.597 | 0.40%
|
| $970,000 | 2016 | Serial | 5% | 108.259 | 0.65%
|
| $995,000 | 2017 | Serial | 5% | 111.458 | 1%
|
| $1.02 million | 2018 | Serial | 5% | 113.663 | 1.4%
|
| $1,045,000 | 2019 | Serial | 2% | 101.171 | 1.75%
|
| $1,065,000 | 2020 | Serial | 5% | 116.047 | 2.1%
|
| $1.09 million | 2021 | Serial | 5% | 116.817 | 2.35%
|
| $1.11 million | 2022 | Serial | 2.5% | 100 | 2.5%
|
| $1,135,000 | 2023 | Serial | 2.625% | 99.408 | 2.7%
|
| $1,155,000 | 2024 | Serial | 3% | 101.286 | 2.85%
|
| $1.18 million | 2025 | Serial | 3% | 100.425 | 2.95%
|
| $1,205,000 | 2026 | Serial | 3% | 99.502 | 3.05%
|
| $1,225,000 | 2027 | Serial | 3% | 98.416 | 3.15%
|
| $1,245,000 | 2028 | Serial | 3% | 97.217 | 3.25%
|
| $1,275,000 | 2029 | Serial | 3.125% | 97.373 | 3.35%
|
| $1.29 million | 2030 | Serial | 3.25% | 97.804 | 3.43%
|
| $1.32 million | 2031 | Serial | 3.25% | 96.827 | 3.5%
|
| $1.34 million | 2032 | Serial | 3.5% | 99.339 | 3.55%
|
| $1,365,000 | 2033 | Serial | 3.5% | 98.634 | 3.6%
|
| $1.15 million | 2034 | Serial | 3.5% | 97.887 | 3.65%
|
|
|
| $65,445,000 series 2014 public improvement bond anticipation notes
|
| Maturity | Type | Coupon | Price | Yield
|
| July 1, 2015 | Term | 1% | 100.446 | 0.55%
|
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