Published on 6/10/2015 in the Prospect News Municipals Daily.
New Issue: Maricopa County, Ariz., brings to market $185.58 million certificates
By Sheri Kasprzak
New York, June 10 – Maricopa County, Ariz., priced $185.58 million of series 2015 certificates of participation, according to a pricing sheet.
The certificates (Aa1/AA+/AA+) were sold through senior manager J.P. Morgan Securities LLC.
The COPs are due 2017 to 2018 with 3% to 5% coupons and 0.96% to 1.35% yields.
Proceeds will be used to finance capital improvements during the fiscal year.
| Issuer: | Maricopa County, Ariz.
|
| Issue: | Series 2015 certificates of participation
|
| Amount: | $185.58 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), RBC Capital markets LLC and Stifel, Nicolaus & Co. (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Fitch: AA+
|
| Pricing date: | June 10
|
| Settlement date: | June 25
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $10 million | 2017 | Serial | 3% | 104.064 | 0.96%
|
| $80,625,000 | 2017 | Serial | 5% | 108.049 | 0.96%
|
| $25 million | 2018 | Serial | 3% | 104.861 | 1.35%
|
| $69,955,000 | 2018 | Serial | 5% | 110.753 | 1.35%
|
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