Published on 4/26/2013 in the Prospect News Municipals Daily.
New Issue: Cabarrus County, N.C., sells $62.36 million of G.O. bonds
By Sheri Kasprzak
New York, April 26 - Cabarrus County, N.C., priced $62.36 million of series 2013 general obligation refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold through Piper Jaffray & Co.
The bonds are due 2014 and 2016 to 2027 with 1.5% to 5% coupons.
Proceeds will be used to refund the county's series 2005 and 2006 G.O. bonds.
| Issuer: | Cabarrus County, N.C.
|
| Issue: | Series 2013 general obligation refunding bonds
|
| Amount: | $62.36 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead), Southwest Securities Inc. (co-manager)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | April 25
|
| Settlement date: | May 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $340,000 | 2014 | Serial | 3% | 102.18
|
| $2,205,000 | 2016 | Serial | 1.5% | 102.743
|
| $4.05 million | 2017 | Serial | 4% | 112.414
|
| $3.45 million | 2018 | Serial | 1.5% | 102.904
|
| $1,645,000 | 2018 | Serial | 4% | 114.614
|
| $6.38 million | 2019 | Serial | 5% | 121.896
|
| $2,325,000 | 2020 | Serial | 1.75% | 102.85
|
| $4.1 million | 2020 | Serial | 5% | 123.911
|
| $6.38 million | 2021 | Serial | 5% | 125.402
|
| $6.41 million | 2022 | Serial | 5% | 126.754
|
| $6.45 million | 2023 | Serial | 5% | 127.788
|
| $6,475,000 | 2024 | Serial | 3.5% | 112.051
|
| $6,105,000 | 2025 | Serial | 3.5% | 110.375
|
| $3,235,000 | 2026 | Serial | 4% | 113.421
|
| $2.81 million | 2027 | Serial | 4% | 111.758
|
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