By Sheri Kasprzak
New York, March 16 - King County in Washington priced $300 million in series 2009 general obligation bonds, said Nigel Lewis, the county's senior financial analyst.
The bonds (/AAA/AA+) are due 2014 to 2030 with term bonds due 2033, 2036 and 2039. The serials have 5% coupons across the board with yields from 2.56% to 5.01%. The 2033 bonds have a 5.125% to yield 5.22%, the 2036 bonds have a 5.125% coupon to yield 5.26% and the 2039 bonds have a 5.25% coupon to yield 5.3%.
Barclays Capital Corp. was the winning bidder for the competitive sale with a 5.11% true interest cost. Seattle-Northwest Securities Corp. was the financial adviser.
Proceeds will be used for improvements to the county's sewer system.
| Issuer: | King County, Washington
|
| Issue: | Series 2009 general obligation bonds
|
| Amount: | $300 million
|
| Type: | Competitive
|
| Underwriter: | Barclays Capital Corp.
|
| TIC: | 5.11%
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | March 16
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2014 | Serial | 5% | 2.56% | 110.802
|
| 2015 | Serial | 5% | 2.77% | 111.737
|
| 2016 | Serial | 5% | 3.00% | 112.102
|
| 2017 | Serial | 5% | 3.24% | 111.945
|
| 2018 | Serial | 5% | 3.43% | 111.753
|
| 2019 | Serial | 5% | 3.63% | 111.141
|
| 2020 | Serial | 5% | 3.85% | 109.253
|
| 2021 | Serial | 5% | 4.01% | 107.905
|
| 2022 | Serial | 5% | 4.13% | 106.907
|
| 2023 | Serial | 5% | 4.26% | 105.838
|
| 2024 | Serial | 5% | 4.41% | 104.620
|
| 2025 | Serial | 5% | 4.53% | 103.658
|
| 2026 | Serial | 5% | 4.64% | 102.786
|
| 2027 | Serial | 5% | 4.74% | 102.000
|
| 2028 | Serial | 5% | 4.84% | 101.222
|
| 2029 | Serial | 5% | 4.93% | 100.528
|
| 2030 | Serial | 5% | 5.01% | 99.864
|
| 2033 | Term | 5.125% | 5.22% | 98.707
|
| 2036 | Term | 5.125% | 5.26% | 98.065
|
| 2039 | Term | 5.25% | 5.30% | 99.247
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
