Published on 3/28/2012 in the Prospect News Municipals Daily.
New Issue: Florida prices $223.59 million of PECO refunding bonds
By Sheri Kasprzak
New York, March 28 - The State of Florida sold $223,585,000 of series 2012B public education capital outlay refunding bonds, according to a pricing sheet.
The bonds (Aa1/AAA/AAA) were sold competitively with Wells Fargo Securities LLC winning the bid.
The bonds are due 2013 to 2023 with 2.25% to 5% coupons.
Proceeds will be used to refund existing PECO bonds.
| Issuer: | State of Florida
|
| Issue: | Series 2012B public education capital outlay refunding bonds
|
| Amount: | $223,585,000
|
| Type: | Competitive
|
| Underwriters: | Wells Fargo Securities LLC (winner)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | March 28
|
| Settlement date: | April 19
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $28.75 million | 2013 | Serial | 5% | 105.293
|
| $28,765,000 | 2014 | Serial | 5% | 109.573
|
| $18.41 million | 2015 | Serial | 5% | 113.232
|
| $15.37 million | 2016 | Serial | 5% | 115.916
|
| $16.19 million | 2017 | Serial | 5% | 118.802
|
| $17,095,000 | 2018 | Serial | 5% | 120.445
|
| $17.99 million | 2019 | Serial | 5% | 122.03
|
| $18,885,000 | 2020 | Serial | 5% | 122.96
|
| $19,855,000 | 2021 | Serial | 5% | 123.478
|
| $20.9 million | 2022 | Serial | 2.25% | 98.25
|
| $21,375,000 | 2023 | Serial | 4% | 111.726
|
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