Published on 7/24/2012 in the Prospect News Municipals Daily.
New Issue: Dallas and Fort Worth price $475 million airport bonds
By Sheri Kasprzak
New York, July 24 - The Cities of Dallas and Fort Worth sold $475 million of series 2012D Dallas/Fort Worth International Airport joint revenue improvement bonds, according to a pricing sheet.
The bonds (A1/A+/A+) were sold through Barclays Capital Inc., Siebert Brandford Shank & Co. LLC, Citigroup Global Markets Inc. and Stifel, Nicolaus & Co.
The bonds are due 2038 and 2042. The 2038 bonds have a 5% coupon priced at 108.047, and the 2042 bonds have a 5% coupon priced at 107.727.
Proceeds will be used to finance capital improvements to the airport.
| Issuer: | Cities of Dallas and Fort Worth
|
| Issue: | Series 2012D Dallas/Fort Worth International Airport joint revenue improvement bonds
|
| Amount: | $475 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc., Siebert Brandford Shank & Co. LLC, Citigroup Global Markets Inc. and Stifel, Nicolaus & Co.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | July 24
|
| Settlement date: | Aug. 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $205,245,000 | 2038 | Term | 5% | 108.047
|
| $269,755,000 | 2042 | Term | 5% | 107.727
|
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