By Cristal Cody
Springdale, Ark., May 22 - The Orange County Sanitation District in Fountain Valley, Calif., priced $77.165 million of refunding certificates of participation with a 2.715% true interest cost on Thursday, the issuer told Prospect News.
The series 2008A certificates (Aa3/AAA/AA) priced with 2.95% to 4% coupons, said Mike White, the district's controller. The yields were not available.
The bonds have maturities from Aug. 1, 2008 through Aug. 1, 2013.
Lehman Brothers was the winning bidder in the competitive sale.
Proceeds will be used to refund the district's $77.34 million of outstanding series 1992 refunding certificates.
| Issuer: | Orange County Sanitation District (California)
|
| Issue: | Refunding certificates of participation
|
| Amount: | $77.165 million
|
| Type: | Competitive
|
| True interest cost: | 2.715%
|
| Maturities: | 2008-2013
|
| Underwriter: | Lehman Brothers
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AAA
|
| Fitch: AA
|
| Pricing date: | May 22
|
|
|
| Maturity | Coupon
|
| 2008 | 3%
|
| 2009 | 4%
|
| 2010 | 4%
|
| 2011 | 4%
|
| 2012 | 4%
|
| 2013 | 2.95%
|
© 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.
