Cabarrus County, N.C., may sell $56.57 million COPs this week

By Sheri Kasprzak

New York, Sept. 29 - Cabarrus County, N.C., is expected to price $56.57 million in series 2008C certificates of participation this week, according to a calendar of upcoming deals.

The COPs (Aa3/AA/AA-) were originally slated to price last week, but the deal was postponed due to rough market conditions, said a sellside source. On Monday, the sellside source said the issuer may be ready to price this week, but the exact pricing date will depend upon market conditions.

The bonds will be sold on a negotiated basis with Southwest Securities as the senior manager.

The bonds are due 2011 to 2029.

Proceeds will be used for the construction and improvement of a 460-bed facility to provide housing for county inmates.

© 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.