Published on 9/21/2012 in the Prospect News Municipals Daily.
New Issue: Dallas and Fort Worth brings $270.54 million of airport refunding bonds
By Sheri Kasprzak
New York, Sept. 21 - The Cities of Dallas and Fort Worth, Texas, sold $270,535,000 of series 2012F AMT joint revenue refunding bonds for the Dallas/Fort Worth International Airport, according to a pricing sheet.
The bonds (A1/A+/A+) were sold through Morgan Stanley & Co. LLC, Ramirez & Co. Inc., M.R. Beal & Co. and Barclays.
The bonds are due 2013 to 2032 with a term bond due in 2035. The serial coupons range from 3% to 5%. The 2035 bonds have a 5% coupon priced at 107.21.
Proceeds will be used to refund existing Dallas/Fort Worth airport revenue bonds.
| Issuer: | Cities of Dallas and Fort Worth, Texas/Dallas-Fort Worth International Airport
|
| Issue: | Series 2012F AMT joint revenue refunding bonds
|
| Amount: | $270,535,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC, Ramirez & Co. Inc., M.R. Beal & Co. and Barclays
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 27
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,035,000 | 2013 | Serial | 3% | NRO
|
| $5,275,000 | 2014 | Serial | 5% | 109.011
|
| $1,535,000 | 2015 | Serial | 4% | 109.503
|
| $9,615,000 | 2018 | Serial | 4% | 111.177
|
| $8,525,000 | 2019 | Serial | 5% | 116.794
|
| $8,925,000 | 2020 | Serial | 5% | 116.858
|
| $10.98 million | 2021 | Serial | 5% | 114.895
|
| $11,465,000 | 2022 | Serial | 5% | 113.66
|
| $14.11 million | 2023 | Serial | 5% | 112.516
|
| $17,075,000 | 2024 | Serial | 5% | 111.911
|
| $23,615,000 | 2025 | Serial | 5% | 111.385
|
| $24.79 million | 2026 | Serial | 5% | 110.862
|
| $14,935,000 | 2027 | Serial | 5% | 110.416
|
| $15.68 million | 2028 | Serial | 5% | 109.825
|
| $14.82 million | 2029 | Serial | 5% | 109.384
|
| $15,565,000 | 2030 | Serial | 5% | 109.018
|
| $16,345,000 | 2031 | Serial | 5% | 108.799
|
| $17.17 million | 2032 | Serial | 5% | 108.581
|
| $37,075,000 | 2035 | Term | 5% | 107.21
|
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