New Issue: Pima County, Ariz., sells $92.31 million of certificates

By Sheri Kasprzak

New York, May 7 - Pima County, Ariz., priced $92,305,000 of series 2013 certificates of participation, according to a pricing sheet.

The deal included $79.6 million of series 2013A COPs and $12,705,000 of series 2013B refunding COPs.

The 2013A certificates are due 2013 to 2022 with 2% to 5% coupons and 0.21% to 2.43% yields.

The 2013B COPs are due 2013 to 2017 with 1.5% to 5% coupons and 0.25% to 1.05% yields.

The bonds (//AA-) were sold through RBC Capital Markets LLC.

Proceeds will be used to refund a portion of the county's outstanding debt for interest savings.

Issuer:	Pima County, Ariz.
Issue:	Series 2013 certificates of participation
Amount:	$92,305,000
Type:	Negotiated
Underwriter:	RBC Capital Markets LLC (lead)
Rating:	Fitch: AA-
Pricing date:	May 7
Settlement date:	May 22
$79.6 million series 2013A COPs
Maturity	Type	Coupon	Price	Yield
2013	Serial	2%	100.676	0.21%
2014	Serial	3%	102.368	0.44%
2015	Serial	5%	111.116	0.56%
2016	Serial	5%	114.606	0.79%
2017	Serial	5%	117.41	1.05%
2018	Serial	5%	119.31	1.36%
2019	Serial	5%	120.23	1.71%
2020	Serial	5%	121.172	1.96%
2021	Serial	5%	121.483	2.22%
2022	Serial	5%	121.734	2.43%
$12,705,000 series 2013B refunding COPs
Amount	Maturity	Type	Coupon	Price	Yield
$2.33 million	2013	Serial	1.5%	100.655	0.25%
$2.42 million	2014	Serial	3%	103.824	0.48%
$2.52 million	2015	Serial	5%	111.116	0.56%
$2.65 million	2016	Serial	5%	114.606	0.79%
$2,785,000	2017	Serial	5%	117.41	1.05%

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