Published on 2/3/2016 in the Prospect News Municipals Daily.
New Issue: Nassau County, N.Y., sells $120.14 million general improvement bonds
By Sheri Kasprzak
New York, Feb. 3 – Nassau County, N.Y., sold $120.14 million of series 2016B general improvement bonds, according to a pricing sheet.
The bonds (A2) were sold competitively with Barclays winning the bid at a 2.449% true interest cost.
The bonds are due 2017 to 2030 with 5% coupons and yields from 0.73% to 2.63%.
Proceeds will be used to finance capital improvements for the county.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2016B general improvement bonds
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| Amount: | $120.14 million
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| Type: | Competitive
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| Underwriter: | Barclays (winner)
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| True interest cost: | 2.449%
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| Rating: | Moody’s: A2
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 9
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $5,735,000 | 2017 | Serial | 5% | 106.966 | 0.73%
|
| $6.01 million | 2018 | Serial | 5% | 110.52 | 0.96%
|
| $6,315,000 | 2019 | Serial | 5% | 113.816 | 1.12%
|
| $7,185,000 | 2020 | Serial | 5% | 116.572 | 1.31%
|
| $7,545,000 | 2021 | Serial | 5% | 118.992 | 1.48%
|
| $7.92 million | 2022 | Serial | 5% | 120.788 | 1.68%
|
| $8.32 million | 2023 | Serial | 5% | 122.037 | 1.89%
|
| $8,735,000 | 2024 | Serial | 5% | 122.813 | 2.10%
|
| $9.17 million | 2025 | Serial | 5% | 124.013 | 2.22%
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| $9.63 million | 2026 | Serial | 5% | 125.039 | 2.33%
|
| $10.11 million | 2027 | Serial | 5% | 124.186 | 2.41%
|
| $10,615,000 | 2028 | Serial | 5% | 123.234 | 2.50%
|
| $11.15 million | 2029 | Serial | 5% | 122.5 | 2.57%
|
| $11.7 million | 2030 | Serial | 5% | 121.876 | 2.63%
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