Published on 2/5/2013 in the Prospect News Municipals Daily.
New Issue: Prince George's County, Md., brings $340.15 million of public improvement bonds
By Sheri Kasprzak
New York, Feb. 5 - Prince George's County, Md., sold $340,145,000 of series 2013 consolidated public improvement bonds, according to a pricing sheet.
The deal included $137.59 million of series 2013A consolidated public improvement bonds and $202,555,000 of series 2013B consolidated public improvement refunding bonds.
The 2013A bonds are due 2014 to 2033 with 2% to 5% coupons. The 2013B bonds are due 2014 to 2028 with coupons from 2.25% to 4%.
The bonds (Aaa/AAA/AAA) were sold competitively. The issuer did not return calls for the winning bidder by press time Tuesday.
Proceeds will be used to construct, reconstruct, establish, enlarge, demolish, acquire, rehabilitate and repair capital projects, including school facilities, roads and bridges, public buildings and fire and correctional facilities, as well as to refund the county's series 2005, 2006 and 2007A consolidated public improvement bonds.
| Issuer: | Prince George's County, Md.
|
| Issue: | Series 2013 consolidated public improvement bonds
|
| Amount: | $340,145,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 20
|
|
|
| $137.59 million series 2013A consolidated public improvement bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,335,000 | 2014 | Serial | 2% | 101.862
|
| $3.43 million | 2015 | Serial | 3% | 105.378
|
| $3.96 million | 2016 | Serial | 4% | 110.513
|
| $4,995,000 | 2017 | Serial | 5% | 117.364
|
| $6.53 million | 2018 | Serial | 5% | 120.722
|
| $7.06 million | 2019 | Serial | 5% | 123.154
|
| $7,845,000 | 2020 | Serial | 5% | 125.24
|
| $9,385,000 | 2021 | Serial | 5% | 126.819
|
| $9.42 million | 2022 | Serial | 5% | 128.192
|
| $10,205,000 | 2023 | Serial | 3% | 109.332
|
| $10,245,000 | 2024 | Serial | 3% | 107.632
|
| $9,535,000 | 2025 | Serial | 3% | 106.33
|
| $8.83 million | 2026 | Serial | 3% | 104.682
|
| $8.87 million | 2027 | Serial | 3% | 103.511
|
| $8,165,000 | 2028 | Serial | 3% | 102.443
|
| $7.46 million | 2029 | Serial | 3% | 101.474
|
| $6,755,000 | 2030 | Serial | 3% | 100.951
|
| $5.31 million | 2031 | Serial | 3% | 100.517
|
| $3,855,000 | 2032 | Serial | 3% | 100
|
| $3.4 million | 2033 | Serial | 3% | 99.254
|
|
|
| $202,555,000 series 2013B consolidated public improvement refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.74 million | 2014 | Serial | 3% | 102.881
|
| $1.98 million | 2015 | Serial | 4% | 107.399
|
| $2,035,000 | 2016 | Serial | 3% | 107.353
|
| $8.92 million | 2017 | Serial | 3% | 109.083
|
| $16,605,000 | 2018 | Serial | 3% | 110.357
|
| $25.21 million | 2019 | Serial | 4% | 116.685
|
| $24,055,000 | 2020 | Serial | 4% | 117.79
|
| $22.21 million | 2021 | Serial | 4% | 118.432
|
| $20,865,000 | 2022 | Serial | 4% | 118.902
|
| $19.53 million | 2023 | Serial | 3% | 108.952
|
| $17.67 million | 2024 | Serial | 3% | 107.165
|
| $15,765,000 | 2025 | Serial | 2.25% | 97.517
|
| $13.72 million | 2026 | Serial | 3% | 102.886
|
| $7.85 million | 2027 | Serial | 2.75% | 98.28
|
| $4.4 million | 2028 | Serial | 3% | 100.69
|
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