Published on 1/26/2015 in the Prospect News Municipals Daily.
New Issue: Nassau County, N.Y., sells $81.73 million G.O.s, bond anticipation notes
By Sheri Kasprzak
New York, Jan. 26 – Nassau County, N.Y., sold $81.73 million of series 2015 bonds and notes, according to a pricing sheet.
The deal included $29.64 million of series 2015 general improvement bonds, $25.49 million of series 2015A bond anticipation notes and $26.6 million of series 2015B BANs.
The bonds (A2/A+/A) are due 2015 to 2033 with coupons from 2% to 5% and yields from 0.25% to 2.90%.
The 2015A BANs are due June 15, 2015 and have a 2% coupon priced at 100.641 to yield 0.30% and the 2015B BANs are due June 15, 2016 and have a 3% coupon priced at 103.427 to yield 0.50%.
The notes were priced through sole underwriter J.P. Morgan Securities LLC. The bonds were sold competitively with FTN Financial Capital Markets winning the bid.
Proceeds will be used to finance capital expenditures.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2015 bonds and notes
|
| Amount: | $81.73 million
|
| Type: | Negotiated/Competitive
|
| Underwriters: | J.P. Morgan Securities LLC (underwriter for notes), FTN Financial Capital Markets (winner of bonds)
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 29
|
|
|
| $29.64 million series 2015 general improvement bonds (A2/A+/A)
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.38 million | 2015 | Serial | 2% | 101.174 | 0.25%
|
| $935,000 | 2016 | Serial | 3% | 104.191 | 0.48%
|
| $965,000 | 2017 | Serial | 5% | 111.278 | 0.73%
|
| $1,015,000 | 2018 | Serial | 5% | 114.385 | 1.00%
|
| $1,175,000 | 2019 | Serial | 5% | 117.214 | 1.20%
|
| $1,235,000 | 2020 | Serial | 5% | 119.562 | 1.40%
|
| $1,295,000 | 2021 | Serial | 5% | 121.081 | 1.65%
|
| $1.36 million | 2022 | Serial | 5% | 122.271 | 1.87%
|
| $1.43 million | 2023 | Serial | 5% | 123.326 | 2.05%
|
| $1.5 million | 2024 | Serial | 5% | 124.272 | 2.20%
|
| $1,575,000 | 2025 | Serial | 5% | 122.999 | 2.33%
|
| $1,655,000 | 2026 | Serial | 5% | 121.837 | 2.45%
|
| $1,735,000 | 2027 | Serial | 5% | 120.88 | 2.55%
|
| $1.82 million | 2028 | Serial | 5% | 120.12 | 2.63%
|
| $1,915,000 | 2029 | Serial | 5% | 119.459 | 2.70%
|
| $2.01 million | 2030 | Serial | 5% | 118.991 | 2.75%
|
| $2.11 million | 2031 | Serial | 5% | 118.524 | 2.80%
|
| $2,215,000 | 2032 | Serial | 5% | 118.059 | 2.85%
|
| $2,315,000 | 2033 | Serial | 5% | 117.597 | 2.90%
|
|
|
| $25.49 million series 2015A bond anticipation notes (/SP-1+/F1)
|
| Maturity | Type | Coupon | Price | Yield
|
| June 15, 2015 | Term | 2% | 100.641 | 0.30%
|
|
|
| $26.6 million series 2015B bond anticipation notes (/SP-1+/F1)
|
| Maturity | Type | Coupon | Price | Yield
|
| June 15, 2016 | Term | 3% | 103.427 | 0.50%
|
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