By Sheri Kasprzak
New York, Nov. 17 - Westchester County, N.Y., priced $180.55 million of series 2011 general obligation bonds (Aaa/AAA/AAA), said a pricing sheet.
The offering included $126.9 million of series 2011B tax-exempt G.O. bonds, $29.39 million of series 2011C tax-exempt G.O. bonds and $24.26 million of series 2011D taxable G.O. bonds.
The bonds were sold competitively. J.P. Morgan Securities LLC won the bid for the 2011B tax-exempt G.O. bonds, and Citigroup Global Markets Inc. took the series 2011C and 2011D bonds.
The 2011B bonds are due 2012 to 2023 with 2% to 5% coupons. The 2011C bonds are due 2012 to 2031 with 2% to 4% coupons. The 2012 to 2013, 2020 to 2023 and 2025 bonds were not reoffered. The 2011D bonds are due in 2016 and bear interest at 1.3% to yield 1.15%.
Proceeds will be used to make improvements, upgrades and repairs to infrastructure projects, including roads, the county jail, park and recreational facilities, community colleges and other county building, as well as to redeem outstanding bond anticipation notes.
| Issuer: | Westchester County, N.Y.
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $180.55 million
|
| Type: | Competitive
|
| Underwriters: | J.P. Morgan Securities LLC (winner for 2011B); Citigroup Global Markets Inc. (winner for 2011C and 2011D)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 30
|
|
|
| $126.9 million series 2011B tax-exempt G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.095 million | 2012 | Serial | 2% | 101.053
|
| $8.59 million | 2013 | Serial | 4% | 105.8
|
| $8.93 million | 2014 | Serial | 5% | 111.438
|
| $9.38 million | 2015 | Serial | 5% | 114.779
|
| $9.85 million | 2016 | Serial | 5% | 117.59
|
| $10.34 million | 2017 | Serial | 5% | 119.872
|
| $10.855 million | 2018 | Serial | 5% | 121.66
|
| $11.4 million | 2019 | Serial | 5% | 122.674
|
| $11.97 million | 2020 | Serial | 5% | 123.203
|
| $12.565 million | 2021 | Serial | 5% | 123.981
|
| $13.2 million | 2022 | Serial | 4% | 114.374
|
| $13.725 million | 2023 | Serial | 2.75% | 100
|
|
|
| $29.39 million series 2011C tax-exempt G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $655,000 | 2012 | Serial | 2% | NRO
|
| $1.115 million | 2013 | Serial | 3% | NRO
|
| $1.15 million | 2014 | Serial | 4% | 108.846
|
| $1.195 million | 2015 | Serial | 4% | 111.101
|
| $1.25 million | 2016 | Serial | 4% | 112.934
|
| $1.295 million | 2017 | Serial | 3% | 108.848
|
| $1.335 million | 2018 | Serial | 4% | 114.944
|
| $1.385 million | 2019 | Serial | 4% | 115.15
|
| $1.445 million | 2020 | Serial | 2% | NRO
|
| $1.475 million | 2021 | Serial | 2.125% | NRO
|
| $1.505 million | 2022 | Serial | 2.25% | NRO
|
| $1.54 million | 2023 | Serial | 2.375% | NRO
|
| $1.575 million | 2024 | Serial | 3% | 101.248
|
| $1.62 million | 2025 | Serial | 3% | NRO
|
| $1.67 million | 2026 | Serial | 3% | 98.6
|
| $1.72 million | 2027 | Serial | 3.125% | 98.599
|
| $1.775 million | 2028 | Serial | 3.25% | 98.859
|
| $1.835 million | 2029 | Serial | 3.375% | 99.145
|
| $1.89 million | 2030 | Serial | 3.5% | 99.591
|
| $1.96 million | 2031 | Serial | 3.5% | 98.601
|
|
|
| $24.26 million series 2011D taxable G.O. bonds
|
| Maturity | Type | Coupon | Yield
|
| 2016 | Term | 1.3% | 1.15%
|
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