New Issue: King County, Wash., sells $51.33 million bonds with 2.49% TIC

By Sheri Kasprzak

New York, Feb. 2 - King County in Washington priced $51.325 million in series 2009 limited tax general obligation refunding bonds on Monday, said Nigel Lewis of the county's treasury department.

Hutchison, Shockey, Erley & Co. was the winning bidder for the competitive sale with a 2.49% true interest cost. Foster Pepper Pllc was the financial adviser.

The bonds (Aa1/AAA/AA+) are due 2009 to 2019 with coupons from 2% to 4% and yields from 1% to 3.08%.

Proceeds will be used to refund the county's series 1998A limited tax general obligation refunding bonds.

Issuer:	King County, Washington
Issue:	Series 2009 limited tax general obligation refunding bonds
Amount:	$51.325 million
Type:	Competitive
Underwriter:	Hutchison, Shockey, Erley & Co.
TIC:	2.49%
Maturities:	2009 to 2019
Coupons:	2% to 4%
Yields:	1% to 3.08%
Ratings:	Moody's: Aa1
	Standard & Poor's: AAA
	Fitch: AA+
Pricing date:	Feb. 2

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