Published on 5/29/2013 in the Prospect News Municipals Daily.
New Issue: Loudoun County, Va., sells $165.28 million G.O. public improvement bonds
By Sheri Kasprzak
New York, May 29 - Loudoun County, Va., priced $165,275,000 of series 2013 general obligation public improvement and refunding bonds, according to a pricing sheet.
The bonds (Aaa//AAA) were sold through BofA Merrill Lynch.
The offering included $97.29 million of series 2013A G.O. public improvement and refunding bonds and $67,985,000 of series 2013B taxable G.O. refunding bonds.
The 2013A bonds are due 2013 to 2032 with 4% to 5% coupons. The 2013B bonds are due 2013 to 2021 with 0.175% to 2.513% coupons, all priced at par.
Proceeds will be used to finance general government and school projects, as well as refund G.O. bonds for debt service savings.
| Issuer: | Loudoun County, Va.
|
| Issue: | Series 2013 general obligation public improvement and refunding bonds
|
| Amount: | $165,275,000
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Moody's: Aaa
|
| Fitch: AA
|
| Pricing date: | May 29
|
| Settlement date: | June 25
|
|
|
| $97.29 million series 2013A G.O. public improvement and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,135,000 | 2013 | Serial | 4% | NRO
|
| $3.14 million | 2014 | Serial | 4% | 105.317
|
| $3.14 million | 2015 | Serial | 5% | 111.179
|
| $3.14 million | 2016 | Serial | 5% | 115.003
|
| $3,135,000 | 2017 | Serial | 4% | 113.816
|
| $3,135,000 | 2018 | Serial | 5% | 120.572
|
| $3,135,000 | 2019 | Serial | 5% | 122.141
|
| $4 million | 2020 | Serial | 4% | 116.527
|
| $5,035,000 | 2020 | Serial | 5% | 123.501
|
| $4 million | 2021 | Serial | 4% | 116.545
|
| $5,055,000 | 2021 | Serial | 5% | 124.314
|
| $12,885,000 | 2022 | Serial | 5% | 124.795
|
| $12,915,000 | 2023 | Serial | 5% | NRO
|
| $9.14 million | 2024 | Serial | 5% | NRO
|
| $5,045,000 | 2025 | Serial | 5% | NRO
|
| $2,465,000 | 2026 | Serial | 5% | NRO
|
| $2,465,000 | 2027 | Serial | 5% | NRO
|
| $2,465,000 | 2028 | Serial | 4% | NRO
|
| $2,465,000 | 2029 | Serial | 4% | NRO
|
| $2,465,000 | 2030 | Serial | 4% | NRO
|
| $2,465,000 | 2031 | Serial | 4% | NRO
|
| $2,465,000 | 2032 | Serial | 4% | NRO
|
|
|
| $67,985,000 series 2013B taxable G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.84 million | 2013 | Serial | 0.175% | 100
|
| $1.79 million | 2014 | Serial | 0.35% | 100
|
| $1,795,000 | 2015 | Serial | 0.693% | 100
|
| $21.58 million | 2016 | Serial | 0.895% | 100
|
| $11,565,000 | 2017 | Serial | 1.175% | 100
|
| $13,785,000 | 2018 | Serial | 1.455% | 100
|
| $7.35 million | 2019 | Serial | 1.854% | 100
|
| $6,365,000 | 2020 | Serial | 2.104% | 100
|
| $1,915,000 | 2021 | Serial | 2.513% | 100
|
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