Published on 3/30/2012 in the Prospect News Municipals Daily.
New Issue: Orange County Public Facilities, N.C., sells $57.85 million limited obligation bonds
By Sheri Kasprzak
New York, March 30 - Orange County, N.C., sold $57.85 million of series 2012 limited obligation bonds for the Orange County Public Facilities Co., according to a pricing sheet.
The bonds (Aa2/AA/AA+) were sold through BB&T Capital Markets and Wells Fargo Securities LLC.
The bonds are due 2012 to 2027 with a term bond due in 2032. The serial coupons range from 2% to 5%. The 2032 bonds have a 4.75% coupon priced at 116.554.
Proceeds will be used to prepay financing agreements between the county and Bank of America NA and Branch Banking and Trust Co.
| Issuer: | Orange County, N.C./Orange County Public Facilities Co.
|
| Issue: | Series 2012 limited obligation bonds
|
| Amount: | $57.85 million
|
| Type: | Negotiated
|
| Underwriters: | BB&T Capital Markets and Wells Fargo Securities LLC (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA+
|
| Pricing date: | March 28
|
| Settlement date: | April 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,515,000 | 2012 | Serial | 2% | 100.829
|
| $3.56 million | 2013 | Serial | 2% | 102.312
|
| $325,000 | 2014 | Serial | 3% | 105.595
|
| $3.23 million | 2014 | Serial | 5% | 110.482
|
| $1.55 million | 2015 | Serial | 4% | 110.565
|
| $1.68 million | 2015 | Serial | 5% | 113.973
|
| $1,995,000 | 2016 | Serial | 4% | 112.148
|
| $1.25 million | 2016 | Serial | 5% | 116.487
|
| $3,825,000 | 2017 | Serial | 4% | 113.192
|
| $555,000 | 2017 | Serial | 5% | 118.427
|
| $4.6 million | 2018 | Serial | 5% | 119.729
|
| $4,615,000 | 2019 | Serial | 4% | 113.514
|
| $4.61 million | 2020 | Serial | 4% | 113.26
|
| $4.62 million | 2021 | Serial | 5% | 120.775
|
| $4.64 million | 2022 | Serial | 5% | 120.954
|
| $3,295,000 | 2023 | Serial | 5% | 120.148
|
| $3,075,000 | 2024 | Serial | 5% | 120.329
|
| $1.13 million | 2025 | Serial | 3.25% | 99.459
|
| $1.13 million | 2026 | Serial | 5% | 120.072
|
| $1.13 million | 2027 | Serial | 3.25% | 97.499
|
| $5.65 million | 2032 | Term | 4.75% | 116.554
|
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