By Sheri Kasprzak
New York, July 28 - Cobb County in Georgia sold $126.6 million in series 2009 water and sewerage revenue bonds Tuesday, said a sellside source connected to the deal.
The bonds (Aaa/AAA/AAA) were sold competitively with Merrill Lynch & Co. Inc. taking the bid with a 3.74% true interest cost.
The bonds are due 2010 to 2029 with coupons from 4% to 5% and yields from 0.94% to 4.33%.
Proceeds from the sale will be used to improve the county's water distribution line, to construct the South Cobb sewer tunnel and to make upgrades to the South Cobb water reclamation facility.
The county seat of Cobb County is Marietta, Ga.
| Issuer: | Cobb County, Ga.
|
| Issue: | Series 2009 water and sewerage revenue bonds
|
| Amount: | $126.6 million
|
| Type: | Competitive
|
| Underwriter: | Merrill Lynch & Co. Inc.
|
| TIC: | 3.74%
|
| Maturities: | 2010 to 2029
|
| Coupons: | 4% to 5%
|
| Yields: | 0.94% to 4.33%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 28
|
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