By Sheri Kasprzak
New York, May 19 - Pima County in Arizona priced $75 million series 2008A sewer revenue bonds, said a term sheet released to Prospect News on Monday.
The bonds (A1/A+/) are due from 2009 to 2023 with coupons from 4% to 5% and yields from 2% to 4.25%.
The bonds were sold on a competitive basis with RBC Capital Markets as the winning bidder. The true interest cost was not immediately available.
Proceeds from the sale will be used for improvements to the county's sewer system.
| Issuer: | Pima County, Ariz.
|
| Issue: | Series 2008A sewer revenue bonds
|
| Amount: | $75 million
|
| Type: | Competitive
|
| Underwriter: | RBC Capital Markets
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | May 13
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 5% | 2%
|
| 2010 | Serial | 5% | 2.4%
|
| 2011 | Serial | 5% | 2.7%
|
| 2013 | Serial | 4% | 3%
|
| 2014 | Serial | 4% | 3.1%
|
| 2015 | Serial | 4% | 3.25%
|
| 2016 | Serial | 4% | 3.45%
|
| 2017 | Serial | 4% | 3.6%
|
| 2018 | Serial | 4% | 3.8%
|
| 2019 | Serial | 4% | 3.95%
|
| 2020 | Serial | 5% | 4.08%
|
| 2021 | Serial | 4% | 4.15%
|
| 2022 | Serial | 4.125% | 4.2%
|
| 2023 | Serial | 4.125% | 4.25%
|
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