By Sheri Kasprzak
New York, Dec. 2 - Nassau County, N.Y., sold $125 million of series 2010 general obligation bonds on Thursday, according to a term sheet.
The bonds (A1/A+/AA-) were sold competitively, but calls to the issuer for the winner were not immediately returned.
The deal included $53 million of series 2010E tax-exempt general improvement bonds and $72 million of series 2010F Build America Bonds.
The 2010E bonds are due 2012 to 2025 with 3% to 5% coupons. The 2010F bonds are due 2026 to 2030 with a term bond due 2035. The coupons range from 6.65% to 7.25%, all priced at par. The 2035 bonds have a 7.4% coupon priced at par.
Proceeds will be used to finance capital projects.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2010 general obligation bonds
|
| Amount: | $125 million
|
| Type: | Competitive
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 16
|
|
|
| $53 million series 2010E
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | NRO
|
| 2013 | Serial | 4% | NRO
|
| 2014 | Serial | 4% | 105.129
|
| 2015 | Serial | 3% | 105.248
|
| 2016 | Serial | 4% | 110.307
|
| 2017 | Serial | 4% | 109.313
|
| 2018 | Serial | 4% | 107.981
|
| 2019 | Serial | 4% | 106.479
|
| 2020 | Serial | 4% | 104.11
|
| 2021 | Serial | 5% | NRO
|
| 2022 | Serial | 4% | NRO
|
| 2023 | Serial | 4% | 100
|
| 2024 | Serial | 4% | 99.053
|
| 2025 | Serial | 4.125% | 99.174
|
|
|
| $72 million series 2010F
|
| Maturity | Type | Coupon | Price
|
| 2026 | Serial | 6.65% | 100
|
| 2027 | Serial | 6.8% | 100
|
| 2028 | Serial | 6.9% | 100
|
| 2029 | Serial | 7.1% | 100
|
| 2030 | Serial | 7.25% | 100
|
| 2035 | Term | 7.4% | 100
|
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