Published on 12/10/2015 in the Prospect News Municipals Daily.
New Issue: Cuyahoga County, Ohio, prices $60.49 million sports facilities bonds
By Sheri Kasprzak
New York, Dec. 10 – Cuyahoga County, Ohio, priced $60,485,000 of series 2015 sports facilities improvement excise tax revenue bonds, according to a pricing sheet.
The bonds (A1/AA-/) were sold through KeyBanc Capital Markets LLC.
The bond are due 2016 to 2027 with 3% to 5% coupons and 0.55% to 2.47% yields.
Proceeds will be used to construct, refurbish, renovate, improve and reconstruct sports facilities in the county.
| Issuer: | Cuyahoga County, Ohio
|
| Issue: | Series 2105 sports facilities improvement excise tax revenue bonds
|
| Amount: | $60,485,000
|
| Type: | Negotiated
|
| Underwriter: | KeyBanc Capital Markets
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: AA-
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 22
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4.35 million | 2016 | Serial | 3% | 102.297 | 0.55%
|
| $4,255,000 | 2017 | Serial | 3% | 103.894 | 0.97%
|
| $4,325,000 | 2018 | Serial | 5% | 110.766 | 1.26%
|
| $4,485,000 | 2019 | Serial | 5% | 113.593 | 1.44%
|
| $4,655,000 | 2020 | Serial | 5% | 115.885 | 1.64%
|
| $4.84 million | 2021 | Serial | 5% | 117.584 | 1.86%
|
| $5,035,000 | 2022 | Serial | 5% | 118.995 | 2.05%
|
| $5,245,000 | 2023 | Serial | 5% | 120.057 | 2.23%
|
| $5.46 million | 2024 | Serial | 5% | 120.137 | 2.22%
|
| $5,695,000 | 2025 | Serial | 5% | 119.254 | 2.33%
|
| $5.94 million | 2026 | Serial | 5% | 118.776 | 2.39%
|
| $6.2 million | 2027 | Serial | 5% | 118.141 | 2.47%
|
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