Published on 6/3/2015 in the Prospect News Municipals Daily.
New Issue: Arlington County, Va., details $77.44 million public improvement bonds
By Sheri Kasprzak
New York, June 3 – Arlington County, Va., released additional information on its $77.44 million of series 2015 general obligation public improvement and refunding bonds. The deal was downsized from $95.78 million.
The bonds (Aaa/AAA/AAA) were sold competitively. Morgan Stanley & Co. LLC won the bid at a 2.8% true interest cost, said Jason Friess, director of finance for the county’s department of management and finance.
The bonds are due 2015 to 2034 with 3% to 4% coupons and yields from 0.25% to 3.41%.
Proceeds will be used to finance various capital improvements and refund existing G.O. debt.
| Issuer: | Arlington County, Va.
|
| Issue: | Series 2015 general obligation public improvement and refunding bonds
|
| Amount: | $77.44 million
|
| Type: | Competitive
|
| Underwriter: | Morgan Stanley & Co. LLC (winner)
|
| TIC: | 2.8%
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
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| Fitch: AAA
|
| Pricing date: | June 2
|
| Settlement date: | June 17
|
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|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.58 million | 2015 | Serial | 4% | 100.603 | 0.25%
|
| $3.51 million | 2016 | Serial | 4% | 104.225 | 0.35%
|
| $3,965,000 | 2017 | Serial | 4% | 107.02 | 0.72%
|
| $3,965,000 | 2018 | Serial | 4% | 108.984 | 1.10%
|
| $3,965,000 | 2019 | Serial | 4% | 110.943 | 1.29%
|
| $3,965,000 | 2020 | Serial | 4% | 112.422 | 1.49%
|
| $3,965,000 | 2021 | Serial | 4% | 113.085 | 1.75%
|
| $3,965,000 | 2022 | Serial | 4% | 113.924 | 1.91%
|
| $3,965,000 | 2023 | Serial | 4% | 114.583 | 2.05%
|
| $3,965,000 | 2024 | Serial | 4% | 115.037 | 2.18%
|
| $3,965,000 | 2025 | Serial | 4% | 114.056 | 2.29%
|
| $3,965,000 | 2026 | Serial | 3% | 104.738 | 2.42%
|
| $3,965,000 | 2027 | Serial | 3% | 103.405 | 2.58%
|
| $3,965,000 | 2028 | Serial | 4% | 110.059 | 2.75%
|
| $3,965,000 | 2029 | Serial | 3.5% | 102.843 | 3.14%
|
| $3,965,000 | 2030 | Serial | 3.5% | 102.203 | 3.22%
|
| $3.96 million | 2031 | Serial | 3.5% | 101.725 | 3.28%
|
| $3.96 million | 2032 | Serial | 3.75% | 103.289 | 3.33%
|
| $3.96 million | 2033 | Serial | 3.75% | 102.97 | 3.37%
|
| $3.96 million | 2034 | Serial | 3.75% | 102.652 | 3.41%
|
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