Published on 5/27/2009 in the Prospect News Municipals Daily.
New Issue: Wake County, N.C., sells $168.97 million bonds at 2.296756% TIC
By Aaron Hochman-Zimmerman
New York, May 27 - Wake County, N.C., priced $168.97 million in series 2009D general obligation refunding bonds at a true interest cost of 2.296756% (Aaa/AAA/AAA), according to Cheryl Spivey, county debt manager.
Barclays Capital Inc. won the auction for bonds due 2012 to 2018 over six other bidders. Waters & Co. LLC acted as financial adviser.
Proceeds from the sale will be used to refund the series 2001A, 2001B and 2002 bonds.
| Issuer: | Wake County
|
| Issue: | Series 2009B general obligation refunding bonds
|
| Amount: | $168.97 million
|
| Maturities: | 2012 to 2018
|
| True interest cost: | 2.296756%
|
| Type: | Competitive
|
| Underwriter: | Barclays Capital Inc.
|
| Pricing date: | May 27
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Maturity | Coupon | Price
|
| Feb. 1, 2012 | 3% | 104.478
|
| Feb. 1, 2013 | 4% | 108.639
|
| Feb. 1, 2014 | 4% | 109.247
|
| Feb. 1, 2015 | 4% | 110.028
|
| Feb. 1, 2016 | 4% | 110.389
|
| Feb. 1, 2017 | 4% | 110.352
|
| Feb. 1, 2018 | 4% | 109.940
|
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