By Sheri Kasprzak
New York, Feb. 5 - The San Diego County Regional Airport Authority of California sold $305,285,000 of series 2014 senior special facilities revenue bonds, according to a pricing sheet.
The deal included $29.39 million of series 2014A non-AMT tax-exempt bonds and $275,895,000 of series 2014B taxable bonds.
The 2014A bonds are due July 1, 2044 and have a 5% coupon priced at 102.022 to yield 4.75%.
The 2014B bonds are due 2018 to 2021 with a term bond due in 2043. The serial coupons range from 2.537% to 3.73%, all priced at par. The 2043 bonds have a 5.594% coupon priced at par.
The bonds (A3/A-/) were sold through senior managers Siebert Brandford Shank & Co. LLC and J.P. Morgan Securities LLC.
Proceeds will be used to finance the construction of a centralized rental car facility at San Diego International Airport.
| Issuer: | San Diego County Regional Airport Authority
|
| Issue: | Series 2014 senior special facilities revenue bonds
|
| Amount: | $305,285,000
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC and J.P. Morgan Securities LLC (lead), Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Jefferies & Co. and Loop Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 19
|
|
|
| $29.39 million series 2014A non-AMT tax-exempt bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| July 1, 2044 | Term | 5% | 102.022 | 4.75%
|
|
|
| $275,895,000 series 2014B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.58 million | 2018 | Serial | 2.537% | 100
|
| $5.72 million | 2019 | Serial | 2.987% | 100
|
| $5.89 million | 2020 | Serial | 3.41% | 100
|
| $6.09 million | 2021 | Serial | 3.73% | 100
|
| $252,615,000 | 2043 | Term | 5.594% | 100
|
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