By Sheri Kasprzak
New York, Aug. 18 - The Dallas Convention Center Hotel Development Corp. priced $405.4 million in series 2009 revenue bonds, said a sellside source connected to the deal.
The bonds (A2/A+/) were sold through senior manager Citigroup Global Markets Inc.
The negotiated sale included $388.2 million in series 2009A Build America Bonds and $17.2 million in series 2009B traditional taxable bonds.
The 2009A bonds are due 2042 and have a 7.09% coupon, priced at par. The 2009B bonds are due 2015 to 2018 with coupons from 4.99% to 5.58%, all priced at par.
Proceeds will be used to fund the construction of a 1,016-room hotel.
| Issuer: | Dallas Convention Center Hotel Development Corp.
|
| Issue: | Series 2009 revenue bonds
|
| Amount: | $405.4 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Pricing date: | Aug. 18
|
|
|
| Series 2009A Build America Bonds
|
| Amount: | $388.2 million
|
| Maturity: | 2042
|
| Coupon: | 7.09%
|
| Price: | Par
|
|
|
| Series 2009B taxable bonds
|
| Amount: | $17.2 million
|
| Maturities: | 2015 to 2018
|
| Coupons: | 4.99% to 5.58%
|
| Price: | Par
|
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