By Sheri Kasprzak
New York, July 13 - Charleston County, S.C., priced $189.515 million of series 2011 general obligation refunding and capital improvement bonds on Wednesday, according to a pricing sheet.
The deal included $167 million of series 2011 capital improvement transportation sales tax bonds and $22.515 million of series 2011 G.O. refunding and capital improvement bonds.
The 2011 sales tax bonds are due 2012 to 2029 with 3% to 5% coupons. The 2011 capital improvement bonds are due 2012 to 2031 with 2% to 5% coupons.
The bonds (Aaa/AAA) were sold competitively with Bank of America Merrill Lynch winning the bid.
Proceeds will be used to defray a portion of the costs to construct and acquire nursing school facilities at the Trident Technical College and the costs to acquire, equip, construct and furnish the Charleston County Law Enforcement Center, as well as advance refund the county's series 2007 G.O. bonds. Proceeds will also construct, acquire and design road and greenbelt projects.
| Issuer: | Charleston County, S.C.
|
| Issue: | Series 2011 general obligation refunding and capital improvement bonds
|
| Amount: | $189.515 million
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch (winner)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | July 13
|
| Settlement date: | July 27
|
|
|
| $167 million series 2011 capital improvement transportation sales tax bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.625 million | 2012 | Serial | 3% | 103.395
|
| $4.92 million | 2013 | Serial | 4% | 107.929
|
| $5.225 million | 2014 | Serial | 4% | 110.552
|
| $5.56 million | 2015 | Serial | 5% | 116.735
|
| $5.95 million | 2016 | Serial | 5% | 119.034
|
| $6.485 million | 2017 | Serial | 5% | 120.111
|
| $7.085 million | 2018 | Serial | 5% | 120.403
|
| $7.72 million | 2019 | Serial | 5% | 120.205
|
| $8.395 million | 2020 | Serial | 5% | 120.183
|
| $9.11 million | 2021 | Serial | 5% | 120.389
|
| $9.86 million | 2022 | Serial | 5% | 118.518
|
| $10.66 million | 2023 | Serial | 5% | 116.969
|
| $11.51 million | 2024 | Serial | 5% | 115.633
|
| $12.405 million | 2025 | Serial | 5% | 114.878
|
| $13.355 million | 2026 | Serial | 5% | 113.943
|
| $14.28 million | 2027 | Serial | 4% | 102.365
|
| $15.19 million | 2028 | Serial | 4% | 101.596
|
| $14.665 million | 2029 | Serial | 4% | 100.834
|
|
|
| $22.515 million series 2011 capital improvement bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $840,000 | 2012 | Serial | 2% | 102.227
|
| $865,000 | 2013 | Serial | 4% | 108.094
|
| $905,000 | 2014 | Serial | 4% | 110.791
|
| $945,000 | 2015 | Serial | 5% | 117.009
|
| $990,000 | 2016 | Serial | 5% | 119.316
|
| $1.045 million | 2017 | Serial | 5% | 120.441
|
| $1.095 million | 2018 | Serial | 5% | 120.779
|
| $1.155 million | 2019 | Serial | 5% | 120.622
|
| $1.21 million | 2020 | Serial | 5% | 120.641
|
| $1.275 million | 2021 | Serial | 5% | 120.888
|
| $1.34 million | 2022 | Serial | 5% | 119.007
|
| $1.41 million | 2023 | Serial | 5% | 117.45
|
| $1.48 million | 2024 | Serial | 5% | 116.108
|
| $1.555 million | 2025 | Serial | 5% | 114.878
|
| $1.635 million | 2026 | Serial | 5% | 113.943
|
| $1.72 million | 2027 | Serial | 5% | 113.108
|
| $1.795 million | 2028 | Serial | 3.75% | 98.618
|
| $1.87 million | 2029 | Serial | 4% | 100
|
| $1.945 million | 2030 | Serial | 4% | 99.33
|
| $2.025 million | 2031 | Serial | 4% | 98.087
|
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