By Cristal Cody
Springdale, Ark., Feb. 28 - Florida priced $155 million right-of-way acquisition and bridge construction bonds with a 5.2% true interest cost in a competitive sale on Thursday, the issuer told Prospect News.
Lehman Brothers won the bidding with 3% to 5.125% coupons and 2.35% to 5.24% yields for the serial maturities 2008 through 2028, said Carol Bagley of the state's division of bond finance.
The bonds (Aa1/AAA/AA+) include a term due 2037 that priced with a 5.25% coupon and 5.35% yield.
Proceeds will be used to acquire property for rights of way and state bridge construction.
| Issuer: | Florida
|
| Issue: | Right-of-way acquisition and bridge construction bonds
|
| Type: | Competitive
|
| Amount: | $155 million
|
| True interest cost: | 5.2%
|
| Coupons: | 3% to 5.125% serials; term, 5.25%
|
| Yields: | 2.35% to 5.24% serials; term, 5.35%
|
| Maturities: | 2008 to 2028; term bond due 2037
|
| Underwriter: | Lehman Brothers
|
| Ratings: | Moody's: Aa1
|
| S&P: AAA
|
| Fitch: AA+
|
| Pricing date: | Feb. 28
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
