Published on 8/8/2013 in the Prospect News Municipals Daily.
New Issue: Nassau County, N.Y., brings $127.92 million general improvement G.O.s
By Sheri Kasprzak
New York, Aug. 8 - Nassau County, N.Y., sold $127.92 million of series 2013B general improvement general obligation bonds, according to a pricing sheet.
The bonds (A2/A+/A) were sold competitively with J.P. Morgan Securities LLC winning the bid.
The bonds are due 2015 to 2035 with term bonds due in 2039 and 2043. The serial coupons range from 4% to 5% with 0.81% to 4.87% yields. The 2039 bonds have a 5% coupon priced at 99.279 to yield 5.05%, and the 2043 bonds have a 5% coupon priced at 98.775 to yield 5.08%.
Proceeds will be used to finance capital expenditures for the county.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2013B general improvement general obligation bonds
|
| Amount: | $127.92 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.73 million | 2015 | Serial | 4% | 105.147 | 0.81%
|
| $1.81 million | 2016 | Serial | 5% | 109.881 | 1.17%
|
| $2.31 million | 2017 | Serial | 5% | 112.273 | 1.51%
|
| $2.43 million | 2018 | Serial | 5% | 113.859 | 1.86%
|
| $2,555,000 | 2019 | Serial | 5% | 114.628 | 2.22%
|
| $2,685,000 | 2020 | Serial | 5% | 114.26 | 2.64%
|
| $2.82 million | 2021 | Serial | 5% | 113.542 | 3%
|
| $2,965,000 | 2022 | Serial | 5% | 112.51 | 3.32%
|
| $3.12 million | 2023 | Serial | 5% | 112.34 | 3.48%
|
| $3.28 million | 2024 | Serial | 5% | 110.872 | 3.65%
|
| $3,445,000 | 2025 | Serial | 5% | 109.342 | 3.83%
|
| $3,625,000 | 2026 | Serial | 5% | 107.424 | 4.06%
|
| $3.81 million | 2027 | Serial | 5% | 106.032 | 4.23%
|
| $4,005,000 | 2028 | Serial | 5% | 104.902 | 4.37%
|
| $4.21 million | 2029 | Serial | 5% | 103.945 | 4.49%
|
| $4,425,000 | 2030 | Serial | 5% | 103.235 | 4.58%
|
| $4,655,000 | 2031 | Serial | 5% | 102.608 | 4.66%
|
| $4.89 million | 2032 | Serial | 5% | 102.14 | 4.72%
|
| $5.14 million | 2033 | Serial | 5% | 101.753 | 4.77%
|
| $5,405,000 | 2034 | Serial | 5% | 101.367 | 4.82%
|
| $5,685,000 | 2035 | Serial | 5% | 100.983 | 4.87%
|
| $25.8 million | 2039 | Term | 5% | 99.279 | 5.05%
|
| $27.12 million | 2043 | Term | 5% | 98.775 | 5.08%
|
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