Published on 11/29/2012 in the Prospect News Municipals Daily.
New Issue: Cook County, Ill., prices $409.94 million of 2012C G.O. refunding bonds
By Sheri Kasprzak
New York, Nov. 29 - Cook County, Ill., sold $409.94 million of series 2012C general obligation refunding bonds, according to a pricing sheet.
The bonds (Aa3/AA/AA-) were sold through Citigroup Global Markets Inc.
The bonds are due 2014 and 2018 to 2029 with a term bond due in 2033. The serial coupons range from 2.03% to 5%. The 2014 bonds have a 0.55% coupon priced at par and the 2033 bonds have a 5% coupon. The full pricing details were not immediately available Thursday.
Proceeds will be used to refund the county's series 2002C-D and series 2004A-B G.O. bonds.
| Issuer: | Cook County, Ill.
|
| Issue: | Series 2012C general obligation refunding bonds
|
| Amount: | $409.94 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Cabrera Capital Markets LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC and William Blair & Co. Inc. (co-managers)
|
| Rating: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.2 million | 2014 | Serial | 0.55% | 100
|
| $16.95 million | 2018 | Serial | 2.03% | 100
|
| $7.26 million | 2019 | Serial | 2.28% | 100
|
| $3 million | 2019 | Serial | 4% | 115.559
|
| $14,295,000 | 2019 | Serial | 5% | 122.069
|
| $3 million | 2020 | Serial | 4%
|
| $18 million | 2020 | Serial | 5%
|
| $3 million | 2021 | Serial | 4%
|
| $18,855,000 | 2021 | Serial | 5%
|
| $20.22 million | 2022 | Serial | 4%
|
| $3 million | 2022 | Serial | 5%
|
| $18.1 million | 2023 | Serial | 5% | 129.294
|
| $77,705,000 | 2024 | Serial | 5%
|
| $80,915,000 | 2025 | Serial | 5%
|
| $4,935,000 | 2026 | Serial | 5%
|
| $4,945,000 | 2027 | Serial | 5%
|
| $4,955,000 | 2028 | Serial | 5%
|
| $55,365,000 | 2029 | Serial | 4%
|
| $25 million | 2029 | Serial | 5%
|
| $25.24 million | 2033 | Term | 5%
|
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