New York, July 27 - King County in Washington State released the full details of its $250 million sale of series 2009 sewer revenue bonds on Tuesday.
The bonds (/AA+/) priced Tuesday through lead manager Barclays Capital Inc. The co-managers were Merrill Lynch & Co. Inc., Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC.
The bonds are due 2013 to 2034 with term bonds due 2039 and 2042. The coupons range from 4% to 5.25%. The yields on the serials range from 1.61% to 5.08%. The 2039 bonds have a 5% coupon to yield 5.22% and the 2042 bonds have a 5.25% coupon to yield 5.35%.
Proceeds will be used to fund improvements to the county's sewer system.
The county seat of King County is Seattle.
| Issuer: | King County, Wash.
|
| Issue: | Series 2009 sewer revenue bonds
|
| Amount: | $250 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. (lead); Merrill Lynch & Co., Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Rating: | Standard & Poor's: AA+
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 12
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2013 | Serial | 4% | 1.61%
|
| 2014 | Serial | 4% | 2.10%
|
| 2015 | Serial | 4% | 2.48%
|
| 2016 | Serial | 4% | 2.80%
|
| 2017 | Serial | 4% | 3.07%
|
| 2018 | Serial | 4% | 3.30%
|
| 2019 | Serial | 4.25% | 3.50%
|
| 2020 | Serial | 5% | 3.67%
|
| 2021 | Serial | 5% | 3.83%
|
| 2022 | Serial | 4% | 4.02%
|
| 2023 | Serial | 5% | 4.08%
|
| 2024 | Serial | 5% | 4.18%
|
| 2025 | Serial | 5% | 4.31%
|
| 2026 | Serial | 5% | 4.41%
|
| 2027 | Serial | 5% | 4.51%
|
| 2028 | Serial | 5% | 4.60%
|
| 2029 | Serial | 5% | 4.69%
|
| 2030 | Serial | 5% | 4.78%
|
| 2031 | Serial | 5% | 4.89%
|
| 2032 | Serial | 5% | 4.99%
|
| 2033 | Serial | 5% | 5.05%
|
| 2034 | Serial | 5% | 5.08%
|
| 2039 | Term | 5% | 5.22%
|
| 2042 | Term | 5.25% | 5.35%
|
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