By Sheri Kasprzak
New York, July 22 - Wake County, N.C., sold $158.815 million in series 2009A TECO project limited obligation bonds Wednesday, said Cheryl Spivey, debt manager for the county.
The bonds (Aa1/AA+/AA+) are due 2012 to 2029 with term bonds due 2032 and 2036. The true interest cost came in at 4.31%, Spivey said.
The coupons range from 2% to 5%. The bonds were not reoffered.
Citigroup Global Markets Inc. and Merrill Lynch & Co. Inc. were the senior managers.
Proceeds will be used to expand the Hammond Road Detention Center in Raleigh.
The county seat of Wake County is Raleigh, N.C.
Issuer: | Wake County, N.C.
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Issue: | Series 2009A TECO project limited obligation bonds
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Amount: | $158.815 million
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Type: | Negotiated
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Underwriters: | Citigroup Global Markets Inc. and Merrill Lynch & Co. Inc. (lead)
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Maturities: | 2012 to 2029 with term bonds due 2032 and 2036
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Coupons: | 2% to 5%
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TIC: | 4.31%
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Ratings: | Moody's: Aa1
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| Standard & Poor's: AA+
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| Fitch: AA+
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Pricing date: | July 22
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