Published on 1/8/2016 in the Prospect News Municipals Daily.
New Issue: Orange County, Calif., sells $334.28 million pension obligation bonds
By Sheri Kasprzak
New York, Jan. 8 – Orange County, Calif., offered up $334,275,000 of series 2016A taxable pension obligation bonds, according to a pricing sheet.
The bonds (/AA/AA) were sold through Stifel, Nicolaus & Co. Inc.
The bonds are due 2016 to 2017 with 0.753% to 1.208% coupons, all priced at par.
Proceeds will be used to pre-pay 2017 pension obligations.
| Issuer: | Orange County, Calif.
|
| Issue: | Series 2016A taxable pension obligation bonds
|
| Amount: | $334,275,000
|
| Type: | Negotiated
|
| Underwriter: | Stifel, Nicolaus & Co. Inc.
|
| Ratings: | Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $10 million | 2016 | Serial | 0.753% | 100 | 0.753%
|
| $95 million | 2016 | Serial | 0.938% | 100 | 0.938%
|
| $95 million | 2017 | Serial | 1.088% | 100 | 1.088%
|
| $95 million | 2017 | Serial | 1.188% | 100 | 1.188%
|
| $39,275,000 | 2017 | Serial | 1.208% | 100 | 1.208%
|
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