Published on 1/9/2013 in the Prospect News Municipals Daily.
New Issue: Fairfax County, Va., sells $206.34 million of public improvement bonds
By Sheri Kasprzak
New York, Jan. 9 - Fairfax County, Va., priced $206,335,000 of series 2013A public improvement general obligation bonds, according to a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold competitively with J.P. Morgan Securities LLC winning the bid with a 2.23% true interest cost, said Joe LaHait, debt coordinator for the county.
The bonds are due 2013 to 2032 with 1.5% to 5% coupons.
Proceeds will be used to finance school, transportation, public safety, parks and recreation and other improvement, as well as to refund the county's series 2004A-B, 2005A, 2007A and 2008A public improvement bonds.
| Issuer: | Fairfax County, Va.
|
| Issue: | Series 2013A public improvement general obligation bonds
|
| Amount: | $206,335,000
|
| Type: | Competitive
|
| Underwriter | J.P. Morgan Securities LLC (winner)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 24
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.32 million | 2013 | Serial | 1.5% | 100.904
|
| $10.32 million | 2014 | Serial | 3% | 104.537
|
| $10.32 million | 2015 | Serial | 4% | 109.608
|
| $10.32 million | 2016 | Serial | 5% | 116.215
|
| $10.32 million | 2017 | Serial | 5% | 119.839
|
| $10.32 million | 2018 | Serial | 5% | 123.049
|
| $10.32 million | 2019 | Serial | 5% | 126.101
|
| $10,315,000 | 2020 | Serial | 5% | 128.072
|
| $10,315,000 | 2021 | Serial | 5% | 129.724
|
| $10,315,000 | 2022 | Serial | 5% | 127.934
|
| $10,315,000 | 2023 | Serial | 5% | 126.541
|
| $10,315,000 | 2024 | Serial | 5% | 125.714
|
| $10,315,000 | 2025 | Serial | 5% | 125.075
|
| $10,315,000 | 2026 | Serial | 5% | 124.621
|
| $10,315,000 | 2027 | Serial | 5% | 124.078
|
| $10,315,000 | 2028 | Serial | 5% | 123.449
|
| $10,315,000 | 2029 | Serial | 5% | 122.913
|
| $10,315,000 | 2030 | Serial | 5% | 122.379
|
| $10,315,000 | 2031 | Serial | 5% | 121.848
|
| $10,315,000 | 2032 | Serial | 5% | 121.32
|
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