Published on 2/20/2013 in the Prospect News Municipals Daily.
New Issue: North Carolina brings $701.93 million G.O. refunding bonds
By Sheri Kasprzak
New York, Feb. 20 - The State of North Carolina sold $701,925,000 of series 2013 general obligation refunding bonds, according to a pricing sheet.
The deal included $351.97 million of series 2013C bonds and $349,955,000 of series 2013D bonds.
The 2013C bonds are due 2015 to 2026 with 3.5% to 5% coupons.
The 2013D bonds are due 2015 to 2023 with 3% to 4% coupons.
The bonds (Aaa/AAA/AAA) were sold competitively. The state controller's office did not immediately return calls for the winning bidder.
Proceeds will be used to refund the state's series 2003A-B and 2004A G.O. bonds.
| Issuer: | State of North Carolina
|
| Issue: | Series 2013 general obligation refunding bonds
|
| Amount: | $701,925,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 28
|
|
|
| $351.97 million series 2013C bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $15.31 million | 2015 | Serial | 3.5% | 106.841
|
| $28,165,000 | 2016 | Serial | 3.5% | 109.338
|
| $14.85 million | 2017 | Serial | 3.5% | 111.587
|
| $27.72 million | 2018 | Serial | 3.75% | 114.16
|
| $35.96 million | 2019 | Serial | 3.75% | 115.454
|
| $47,585,000 | 2020 | Serial | 4% | 117.613
|
| $47.16 million | 2021 | Serial | 4% | 117.984
|
| $46.87 million | 2022 | Serial | 4% | 118.342
|
| $39.47 million | 2023 | Serial | 4% | 118.025
|
| $16,225,000 | 2024 | Serial | 5% | 128.749
|
| $16.29 million | 2025 | Serial | 5% | 129.512
|
| $16,365,000 | 2026 | Serial | 5% | 130.005
|
|
|
| $349,955,000 series 2013D bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,575,000 | 2015 | Serial | 3% | 105.839
|
| $2,655,000 | 2016 | Serial | 3% | 107.866
|
| $27,735,000 | 2017 | Serial | 3% | 109.676
|
| $27,315,000 | 2018 | Serial | 3% | 110.543
|
| $26,885,000 | 2019 | Serial | 3% | 111.203
|
| $66,445,000 | 2020 | Serial | 4% | 117.883
|
| $65.85 million | 2021 | Serial | 4% | 118.495
|
| $65.56 million | 2022 | Serial | 4% | 118.776
|
| $64,935,000 | 2023 | Serial | 4% | 118.871
|
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