By Sheri Kasprzak
New York, April 23 - The Midtown Miami Community Development Authority of Florida sold $91,845,000 of series 2014 special assessment and revenue bonds, according to a pricing sheet.
The deal included $64,875,000 of series 2014A parking garage project special assessment and revenue refunding bonds and $26.97 million of series 2014B infrastructure project special assessment refunding bonds.
The 2014A bonds are due 2024, 2029 and 2037. The 2024 bonds have a 4.25% coupon priced at 98.998 to yield 4.375%, and the 2029 bonds have a 5% coupon priced at par.
The 2014B bonds are due 2024, 2029 and 2037. The 2024 bonds have a 4.25% priced at 98.998 to yield 4.375%, and the 2029 bonds have a 5% coupon priced at par. The 2037 bonds have a 5% coupon priced at 96.684 to yield 5.25%.
Proceeds will be used to refund the district's series 2004A-B revenue bonds, which were issued to finance the construction of a parking facility, as well as public open space, roadways, water and sewer facilities.
| Issuer: | Midtown Miami Community Development District
|
| Issue: | Series 2014 special assessment and revenue bonds
|
| Amount: | $91,845,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and FMS Bonds Inc. (lead)
|
| Pricing date: | April 22
|
| Settlement date: | May 20
|
|
|
| $64,875,000 series 2014A parking garage project special assessment and revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $19,965,000 | 2024 | Term | 4.25% | 98.998 | 4.375%
|
| $13,935,000 | 2029 | Term | 5% | 100 | 5%
|
| $30,975,000 | 2037 | Term | 5% | 96.684 | 5.25%
|
|
|
| $26.97 million series 2014B infrastructure project special assessment refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $8.31 million | 2024 | Term | 4.25% | 98.998 | 4.375%
|
| $5.79 million | 2029 | Term | 5% | 100 | 5%
|
| $12.87 million | 2037 | Term | 5% | 96.684 | 5.25%
|
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