Published on 7/16/2012 in the Prospect News Municipals Daily.
New Issue: King County, Wash., brings $94.61 million of G.O. refunding bonds
By Sheri Kasprzak
New York, July 16 - King County, Wash., came to market Monday with $94.61 million of series 2012 unlimited tax general obligation refunding 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 1.66% true interest cost, said Nigel Lewis, business and finance officer for the county.
The bonds are due 2012 and 2015 to 2023 with 2% to 5% coupons.
Proceeds will be used to refund the city's series 2004 and series 2004B unlimited tax G.O. bonds issued for Harborview Medical Center.
| Issuer: | King County, Wash.
|
| Issue: | Series 2012 unlimited tax general obligation refunding bonds
|
| Amount: | $94.61 million
|
| Type: | Competitive
|
| Underwriters: | J.P. Morgan Securities LLC (winner)
|
| TIC: | 1.66%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 16
|
| Settlement date: | Aug. 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.19 million | 2012 | Serial | 2% | NRO
|
| $7,365,000 | 2015 | Serial | 4% | NRO
|
| $7.94 million | 2016 | Serial | 5% | NRO
|
| $8,635,000 | 2017 | Serial | 5% | NRO
|
| $9.42 million | 2018 | Serial | 5% | 123.184
|
| $10,235,000 | 2019 | Serial | 5% | NRO
|
| $11.04 million | 2020 | Serial | 5% | 126.14
|
| $11,915,000 | 2021 | Serial | 5% | 127.181
|
| $12.83 million | 2022 | Serial | 5% | 128.326
|
| $4,655,000 | 2023 | Serial | 4% | 117.206
|
| $9,385,000 | 2023 | Serial | 5% | 127.469
|
© 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.
