Published on 10/16/2012 in the Prospect News Municipals Daily.
New Issue: Cumberland County Municipal, Pa., prices $51.64 million Asbury Pennsylvania bonds
By Sheri Kasprzak
New York, Oct. 16 - The Cumberland County Municipal Authority of Pennsylvania sold $51.64 million of series 2012 refunding revenue bonds for Asbury Pennsylvania Obligated Group, according to a pricing sheet.
The bonds were sold through Ziegler Capital Markets Inc.
The bonds are due 2014 to 2015 with term bonds due in 2017, 2022, 2027, 2032 and 2041. The serial coupons range from 2.4% to 2.6%, all priced at par. The 2017 bonds have a 3% coupon priced at 99.126, and the 2022 bonds have a 5% coupon priced at 105.096. The 2027 bonds have a 5.25% coupon priced at 104.051, and the 2032 bonds have a 5.25% coupon priced at 102.924. The 2041 bonds have a 5.25% coupon priced at 101.08.
Proceeds will be used to refund the authority's series 2006 adjustable-rate demand revenue bonds.
| Issuer: | Cumberland County Municipal Authority/Asbury Pennsylvania Obligated Group
|
| Issue: | Series 2012 refunding revenue bonds
|
| Amount: | $51.64 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Markets Inc.
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $465,000 | 2014 | Serial | 2.4% | 100
|
| $480,000 | 2015 | Serial | 2.6% | 100
|
| $995,000 | 2017 | Term | 3% | 99.126
|
| $2,935,000 | 2022 | Term | 5% | 105.096
|
| $3,845,000 | 2027 | Term | 5.25% | 104.051
|
| $10,065,000 | 2032 | Term | 5.25% | 102.924
|
| $32,855,000 | 2041 | Term | 5.25% | 101.08
|
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