By Sheri Kasprzak
New York, Aug. 11 - Sacramento County in California sold $130.93 million of series 2010 airport system senior revenue bonds on Wednesday, said a term sheet.
The bonds (A2/A/) were sold through Morgan Stanley & Co. Inc. and J.P. Morgan Securities Inc.
The bonds are due 2012 to 2028 with term bonds due 2030 and 2040. The serial coupons range from 2% to 5%. The 2030 bonds have a 5% coupon priced at 102.575. The 2040 bonds have a 5% coupon priced at par.
Proceeds will be used to finance the county's airport system capital improvement program, which includes land acquisitions, facility improvements, building maintenance and federal and state grant processing.
| Issuer: | Sacramento County
|
| Issue: | Series 2010 airport system senior revenue bonds
|
| Amount: | $130.93 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and J.P. Morgan Securities Inc. (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 25
|
|
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 2% | 101.92
|
| 2013 | Serial | 2% | 101.866
|
| 2014 | Serial | 2% | 101.149
|
| 2015 | Serial | 2.5% | 101.417
|
| 2016 | Serial | 3% | 101.992
|
| 2017 | Serial | 3.25% | 101.783
|
| 2018 | Serial | 4% | 105.582
|
| 2019 | Serial | 5% | 111.811
|
| 2020 | Serial | 4% | 102.953
|
| 2020 | Serial | 5% | 111.168
|
| 2021 | Serial | 5% | 110.037
|
| 2022 | Serial | 5% | 108.835
|
| 2023 | Serial | 4% | 99.697
|
| 2023 | Serial | 5% | 107.816
|
| 2024 | Serial | 5% | 106.977
|
| 2025 | Serial | 5% | 106.062
|
| 2026 | Serial | 5% | 105.238
|
| 2027 | Serial | 5% | 104.423
|
| 2028 | Serial | 4.5% | 99.509
|
| 2028 | Serial | 5% | 103.615
|
| 2030 | Term | 5% | 102.575
|
| 2040 | Term | 5% | 100
|
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