Published on 8/10/2016 in the Prospect News Municipals Daily.
New Issue: Will County, Ill., prices $175 million of general obligation bonds
By Sheri Kasprzak
New York, Aug. 10 – Will County, Ill., brought $175 million of series 2016 alternative revenue source general obligation bonds, said a pricing sheet.
The bonds (/AA+) were sold through Wells Fargo Securities LLC.
The bonds are due 2017 to 2036 with term bonds due in 2041 and 2045. The serial coupons range from 3% to 5% with yields from 0.66% to 2.80%. The 2041 bonds have a 5% coupon priced at 119.387 to yield 2.62%, and the 2045 bonds have a 5% coupon priced at 119.116 to yield 2.65%.
Proceeds will be used to finance various capital projects, including the construction of a new sheriff’s office building, courthouse, satellite courthouse and health department facility.
| Issuer: | Will County, Ill.
|
| Issue: | Series 2016 alternative revenue source general obligation bonds
|
| Amount: | $175 million
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC
|
| Rating: | S&P: AA+
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 24
|
|
|
| Amount Maturity | Type | Coupon | Price | Yield
|
| $1,025,000 | 2017 | Serial | 3% | 102.849 0.66%
|
| $3.98 million | 2018 | Serial | 4% | 107.111 0.77%
|
| $2,945,000 | 2026 | Serial | 5% | 126.308 1.88%
|
| $3.53 million | 2027 | Serial | 5% | 125.058 2.01%
|
| $3,865,000 | 2028 | Serial | 4% | 113.61 | 2.35%
|
| $4,185,000 | 2029 | Serial | 4% | 112.99 | 2.42%
|
| $4,525,000 | 2030 | Serial | 4% | 112.637 2.46%
|
| $4.88 million | 2031 | Serial | 5% | 122.696 2.26%
|
| $5.47 million | 2032 | Serial | 5% | 122.23 | 2.31%
|
| $6,095,000 | 2033 | Serial | 5% | 121.766 2.36%
|
| $6.77 million | 2034 | Serial | 5% | 121.397 2.40%
|
| $7.49 million | 2035 | Serial | 4% | 110.034 2.76%
|
| $8.18 million | 2036 | Serial | 4% | 109.693 2.80%
|
| $51.71 million | 2041 | Term | 5% | 119.387 2.62%
|
| $60.35 million | 2045 | Term | 5% | 119.116 2.65%
|
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