Published on 5/18/2015 in the Prospect News Municipals Daily.
New Issue: Onondaga County, N.Y., details $79.9 million general obligation deal
By Sheri Kasprzak
New York, May 18 – Onondaga County, N.Y., released additional information about its $79.9 million sale of series 2015 general obligation bonds.
The bonds (Aa2/AA+/AAA) were sold competitively. Citigroup Global Markets Inc. won the bid at a 3.43272% true interest cost, said Steve Morgan, the county’s chief fiscal officer.
The bonds are due 2017 to 2045 with 3% to 5% coupons and 0.68% to 3.85% yields.
Proceeds will be used to finance capital projects for the county.
| Issuer: | Onondaga County, N.Y.
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| Issue: | Series 2015 general obligation bonds
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| Amount: | $79.9 million
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| Type: | Competitive
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| Underwriter: | Citigroup Global Markets Inc.
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| True interest cost: | 3.43272%
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| Ratings: | Moody’s: Aa2
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| Standard & Poor’s: AA+
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| Fitch: AAA
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| Pricing date: | May 14
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| Settlement date: | May 28
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,365,000 | 2017 | Serial | 5% | 108.413 | 0.68%
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| $2.43 million | 2018 | Serial | 5% | 111.496 | 1.05%
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| $2.5 million | 2019 | Serial | 5% | 114.249 | 1.30%
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| $2.57 million | 2020 | Serial | 5% | 116.681 | 1.50%
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| $2.64 million | 2021 | Serial | 5% | 118.64 | 1.70%
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| $2.72 million | 2022 | Serial | 5% | 120.13 | 1.90%
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| $2.79 million | 2023 | Serial | 5% | 121.164 | 2.10%
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| $2.87 million | 2024 | Serial | 5% | 122.21 | 2.25%
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| $2.95 million | 2025 | Serial | 5% | 121.305 | 2.35%
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| $3.03 million | 2026 | Serial | 5% | 119.079 | 2.60%
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| $3,115,000 | 2027 | Serial | 5% | 116.9 | 2.85%
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| $3.2 million | 2028 | Serial | 3% | 100.783 | 2.90%
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| $3,295,000 | 2029 | Serial | 3% | 100 | 3.00%
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| $3.38 million | 2030 | Serial | 3% | 98.809 | 3.10%
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| $3.48 million | 2031 | Serial | 3% | 97.514 | 3.20%
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| $3,575,000 | 2032 | Serial | 3.125% | 97.739 | 3.30%
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| $3,675,000 | 2033 | Serial | 3.25% | 98.391 | 3.37%
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| $3,775,000 | 2034 | Serial | 3.25% | 97.232 | 3.45%
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| $3.88 million | 2035 | Serial | 3.25% | 96.429 | 3.50%
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| $1.91 million | 2036 | Serial | 3% | 91.915 | 3.55%
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| $1.96 million | 2037 | Serial | 3.5% | 98.489 | 3.60%
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| $2,015,000 | 2038 | Serial | 3.5% | 97.68 | 3.65%
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| $2.07 million | 2039 | Serial | 3.5% | 96.838 | 3.70%
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| $2.13 million | 2040 | Serial | 3.625% | 97.984 | 3.75%
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| $2.19 million | 2041 | Serial | 3.75% | 99.178 | 3.80%
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| $2.25 million | 2042 | Serial | 3.75% | 98.33 | 3.85%
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| $2,315,000 | 2043 | Serial | 4% | 101.506 | 3.80%
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| $2,375,000 | 2044 | Serial | 4% | 101.506 | 3.80%
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| $2,445,000 | 2045 | Serial | 4% | 101.506 | 3.80%
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