Published on 2/1/2013 in the Prospect News Municipals Daily.
New Issue: Winnebago County, Ill., sells $50.19 million of G.O. refunding bonds
By Sheri Kasprzak
New York, Feb. 1 - Winnebago County, Ill., sold $50,185,000 of series 2013 general obligation refunding bonds, said an official statement.
The offering included $38.5 million of series 2013A G.O. alternate refunding bonds, $5.36 million of series 2013B G.O. alternate refunding bonds and $6,325,000 of series 2013C G.O. refunding debt certificates.
The bonds (Aa2) were sold through Wells Fargo Securities LLC and PNC Capital Markets LLC.
The 2013A bonds are due 2016 to 2024 with 3% to 5% coupons and yields from 0.87% to 2.46%.
The 2013B bonds are due 2017 to 2022 with coupons from 2% to 4% and yields from 1.07% to 2.21%.
The 2013C certificates are due 2016 to 2026 with coupons from 2% to 5% and yields from 1.05% to 3.17%.
Proceeds will be used to refund the county's series 2005A, 2006A-B and 2006D G.O. bonds.
| Issuer: | Winnebago County, Ill.
|
| Issue: | Series 2013 general obligation refunding bonds
|
| Amount: | $50,185,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and PNC Capital Markets LLC
|
| Rating: | Moody's: Aa2
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 7
|
|
|
| $38.5 million series 2013A G.O. alternate refunding bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $2.31 million | 2016 | Serial | 3% | 0.87%
|
| $5.05 million | 2017 | Serial | 4% | 1.07%
|
| $3,315,000 | 2018 | Serial | 3% | 1.28%
|
| $3.46 million | 2019 | Serial | 4% | 1.52%
|
| $2.75 million | 2020 | Serial | 5% | 1.78%
|
| $2,885,000 | 2021 | Serial | 5% | 1.99%
|
| $3.23 million | 2022 | Serial | 4% | 2.21%
|
| $7.56 million | 2023 | Serial | 5% | 2.37%
|
| $7.94 million | 2024 | Serial | 5% | 2.46%
|
|
|
| $5.36 million series 2013B G.O. alternate refunding bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $845,000 | 2017 | Serial | 2% | 1.07%
|
| $860,000 | 2018 | Serial | 4% | 1.28%
|
| $880,000 | 2019 | Serial | 3% | 1.52%
|
| $895,000 | 2020 | Serial | 4% | 1.78%
|
| $930,000 | 2021 | Serial | 4% | 1.99%
|
| $950,000 | 2022 | Serial | 4% | 2.21%
|
|
|
| $6,325,000 series 2013C G.O. refunding debt certificates
|
| Amount | Maturity | Type | Coupon | Yield
|
| $475,000 | 2016 | Serial | 3% | 1.05%
|
| $495,000 | 2017 | Serial | 3% | 1.22%
|
| $510,000 | 2018 | Serial | 4% | 1.41%
|
| $525,000 | 2019 | Serial | 4% | 1.65%
|
| $550,000 | 2020 | Serial | 3% | 1.91%
|
| $565,000 | 2021 | Serial | 4% | 2.12%
|
| $590,000 | 2022 | Serial | 2% | 2.34%
|
| $605,000 | 2023 | Serial | 5% | 2.50%
|
| $635,000 | 2024 | Serial | 5% | 2.59%
|
| $670,000 | 2025 | Serial | 5% | 2.68%
|
| $705,000 | 2026 | Serial | 3% | 3.17%
|
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