Published on 12/16/2015 in the Prospect News Municipals Daily.
New Issue: Morris County Improvement Authority, N.J., sells $61.09 million of bonds
By Sheri Kasprzak
New York, Dec. 16 – The Morris County Improvement Authority of New Jersey sold $61.09 million of series 2015 governmental loan revenue bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through Raymond James/Morgan Keegan.
The bonds are due 2016 to 2024 with 2% to 5% coupons and 0.28% to 1.89% yields.
Proceeds will be used to finance capital improvements throughout the county.
| Issuer: | Morris County Improvement Authority, N.J.
|
| Issue: | Series 2015 governmental loan revenue bonds
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| Amount: | $61.09 million
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| Type: | Negotiated
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| Underwriter: | Raymond James/Morgan Keegan
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| Ratings: | Moody’s: Aaa
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| Standard & Poor’s: AAA
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 30
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,685,000 | 2016 | Serial | 2% | 100.577 | 0.28%
|
| $3,205,000 | 2017 | Serial | 3% | 102.957 | 0.77%
|
| $12,475,000 | 2018 | Serial | 3% | 104.605 | 1.00%
|
| $10.97 million | 2019 | Serial | 3% | 105.834 | 1.21%
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| $9.62 million | 2020 | Serial | 4% | 111.212 | 1.33%
|
| $8,165,000 | 2021 | Serial | 4% | 112.718 | 1.51%
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| $6.42 million | 2022 | Serial | 4% | 114.016 | 1.66%
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| $5.36 million | 2023 | Serial | 5% | 122.05 | 1.78%
|
| $3.19 million | 2024 | Serial | 5% | 123.879 | 1.89%
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