Published on 5/23/2012 in the Prospect News Municipals Daily.
New Issue: North Reading, Mass., sells $51.41 million municipal purpose loan G.O.s
By Sheri Kasprzak
New York, May 23 - The Town of North Reading, Mass., sold $51,411,000 of series 2012 municipal purpose loan general obligation bonds, according to a pricing sheet.
The bonds (Aa2) were sold competitively with Fidelity Capital Markets Inc. winning the bid at a 3.538% average interest rate, said Elizabeth Pavao, the town's financial director.
The bonds are due 2013 to 2030 with term bonds due in 2035 and 2037. The serial coupons range from 2% to 5%. The 2035 bonds have a 5% coupon priced at 114.265. The 2037 bonds have a 4% coupon priced at par.
Proceeds will be used to finance capital improvements for the town and for the construction of a high school and middle school.
| Issuer: | North Reading, Mass.
|
| Issue: | Series 2012 municipal purpose loan general obligation bonds
|
| Amount: | $51,411,000
|
| Type: | Competitive
|
| Underwriter: | Fidelity Capital Markets Inc. (winner)
|
| True interest cost: | 3.538%
|
| Rating: | Moody's: Aa2
|
| Pricing date: | May 23
|
| Settlement date: | June 18
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,626,000 | 2013 | Serial | 2% | 101.476
|
| $1,455,000 | 2014 | Serial | 2% | 102.555
|
| $1,475,000 | 2015 | Serial | 3% | 106.311
|
| $1.46 million | 2016 | Serial | 3% | 107.886
|
| $1.49 million | 2017 | Serial | 3% | 108.853
|
| $1,525,000 | 2018 | Serial | 3% | 109.398
|
| $1.57 million | 2019 | Serial | 4% | 115.848
|
| $1,625,000 | 2020 | Serial | 5% | 123.073
|
| $1.66 million | 2021 | Serial | 5% | 123.173
|
| $1.7 million | 2022 | Serial | 5% | 123.499
|
| $1,735,000 | 2023 | Serial | 5% | 122.31
|
| $1.82 million | 2024 | Serial | 5% | 120.842
|
| $1.91 million | 2025 | Serial | 5% | 119.587
|
| $2,005,000 | 2026 | Serial | 3% | 100
|
| $2,065,000 | 2027 | Serial | 3% | 98.811
|
| $2.13 million | 2028 | Serial | 4% | 106.744
|
| $2,215,000 | 2029 | Serial | 4% | 105.872
|
| $2.3 million | 2030 | Serial | 5% | 118.064
|
| $13.35 million | 2035 | Term | 5% | 114.265
|
| $6,295,000 | 2037 | Term | 4% | 100
|
© 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.
