Published on 6/28/2012 in the Prospect News Municipals Daily.
New Issue: Buncombe County, N.C., sells $75.37 million of limited obligation bonds
By Sheri Kasprzak
New York, June 28 - Buncombe County, N.C., priced $75,365,000 of series 2012 limited obligation bonds, according to an official statement.
The bonds (Aa2/AA+/) were sold on a negotiated basis with Baird & Co. and SunTrust Robinson Humphrey as the senior managers.
The bonds are due 2013 to 2032 with coupons from 2% to 5% and yields from 0.33% to 3.44%.
Proceeds will be used to construct and renovate a four-story court building for the county, construct a law enforcement training facility, purchase technology for the county's administrative offices and expand the county's landfill, as well as refinance obligations under the county's 2003 contract and 2005 amendment.
| Issuer: | Buncombe County, N.C.
|
| Issue: | Series 2012 limited obligation bonds
|
| Amount: | $75,365,000
|
| Type: | Negotiated
|
| Underwriters: | Baird & Co. and SunTrust Robinson Humphrey (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Pricing date: | June 21
|
| Settlement date: | July 3
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1,365,000 | 2013 | Serial | 2% | 0.33%
|
| $1.52 million | 2014 | Serial | 3% | 0.55%
|
| $4,835,000 | 2015 | Serial | 5% | 0.77%
|
| $5.53 million | 2016 | Serial | 5% | 0.90%
|
| $175,000 | 2017 | Serial | 2% | 1.16%
|
| $5,365,000 | 2017 | Serial | 5% | 1.16%
|
| $350,000 | 2018 | Serial | 2% | 1.47%
|
| $500,000 | 2018 | Serial | 3% | 1.47%
|
| $3,985,000 | 2018 | Serial | 5% | 1.47%
|
| $200,000 | 2019 | Serial | 3% | 1.80%
|
| $1.5 million | 2019 | Serial | 4% | 1.80%
|
| $3.14 million | 2019 | Serial | 5% | 1.80%
|
| $1.1 million | 2020 | Serial | 3% | 2.04%
|
| $2.5 million | 2020 | Serial | 4% | 2.04%
|
| $1.19 million | 2020 | Serial | 5% | 2.04%
|
| $4.78 million | 2021 | Serial | 5% | 2.30%
|
| $675,000 | 2022 | Serial | 3% | 2.49%
|
| $3.76 million | 2022 | Serial | 5% | 2.49%
|
| $3.85 million | 2023 | Serial | 5% | 2.66%
|
| $3,845,000 | 2024 | Serial | 5% | 2.80%
|
| $3.15 million | 2025 | Serial | 5% | 2.91%
|
| $3.15 million | 2026 | Serial | 5% | 3.00%
|
| $3.15 million | 2027 | Serial | 5% | 3.09%
|
| $3.15 million | 2028 | Serial | 5% | 3.17%
|
| $3.15 million | 2029 | Serial | 5% | 3.24%
|
| $3.15 million | 2030 | Serial | 5% | 3.31%
|
| $3.15 million | 2031 | Serial | 5% | 3.38%
|
| $3.15 million | 2032 | Serial | 5% | 3.44%
|
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