Published on 2/29/2012 in the Prospect News Municipals Daily.
New Issue: Guilford County, N.C., prices $176.39 million G.O. bonds
By Sheri Kasprzak
New York, Feb. 29 - Guilford County, N.C., sold $176.39 million of series 2012 general obligation bonds, according to a pricing sheet.
The deal included $133,745,000 of series 2012A public improvements bonds, $17,145,000 of series 2012B taxable qualified school construction G.O. bonds and $25.5 million of series 2012C G.O. refunding bonds.
The 2012A bonds are due 2013 to 2031 with 2% to 5% coupons. The 2012B bonds are due March 1, 2032 and have a 3.934% coupon priced at par. The 2012C bonds are due 2016 to 2020 with 2% to 5% coupons.
The bonds (Aaa/AAA/AAA) were sold through senior managers Wells Fargo Securities LLC and BB&T Capital Markets Inc.
Proceeds will be used to construct, acquire, equip, renovate and improve school facilities in the county, as well as to refund the county's series 2000C variable-rate G.O. bonds.
| Issuer: | Guilford County, N.C.
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $176.39 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC, BB&T Capital Markets Inc.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 14
|
|
|
| $133,745,000 series 2012A public improvement bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,645,000 | 2013 | Serial | 2% | 101.732
|
| $4.7 million | 2014 | Serial | 4% | 107.219
|
| $5.79 million | 2015 | Serial | 4% | 110.377
|
| $8,495,000 | 2016 | Serial | 5% | 117.338
|
| $9,295,000 | 2017 | Serial | 5% | 120.778
|
| $9,385,000 | 2018 | Serial | 5% | 123.101
|
| $9.49 million | 2019 | Serial | 5% | 124.859
|
| $9,595,000 | 2020 | Serial | 5% | 125.923
|
| $450,000 | 2021 | Serial | 2% | 101.981
|
| $9,255,000 | 2021 | Serial | 5% | 126.758
|
| $8.92 million | 2022 | Serial | 5% | 127.81
|
| $2 million | 2023 | Serial | 2% | 97.773
|
| $6,995,000 | 2023 | Serial | 5% | 129.061
|
| $5,075,000 | 2024 | Serial | 2% | 95.156
|
| $4 million | 2024 | Serial | 3% | 106.314
|
| $750,000 | 2025 | Serial | 5% | 131.299
|
| $8,335,000 | 2025 | Serial | 3.5% | 110.663
|
| $9.14 million | 2026 | Serial | 3.5% | 109.621
|
| $9.19 million | 2027 | Serial | 3.5% | 107.872
|
| $7.09 million | 2028 | Serial | 5% | 132.74
|
| $1.31 million | 2029 | Serial | 3% | 99.603
|
| $560,000 | 2030 | Serial | 3% | 99.038
|
| $280,000 | 2031 | Serial | 3% | 97.869
|
|
|
| $17,145,000 series 2012B taxable qualified school construction G.O. bonds
|
| Maturity | Type | Coupon | Price
|
| March 1, 2032 | Term | 3.934% | 100
|
|
|
| $25.5 million series 2012C G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $585,000 | 2016 | Serial | 2% | 106.177
|
| $2 million | 2017 | Serial | 3.5% | 114.562
|
| $5,125,000 | 2017 | Serial | 5% | 122.683
|
| $7,115,000 | 2018 | Serial | 5% | 124.427
|
| $1.7 million | 2019 | Serial | 2% | 104.502
|
| $5,365,000 | 2019 | Serial | 4% | 118.795
|
| $3.61 million | 2020 | Serial | 3% | 110.804
|
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