By Sheri Kasprzak
New York, Nov. 8 - The Florida Board of Education priced Tuesday $164.45 million of series 2011E public education capital outlay refunding, according to a pricing sheet.
The bonds (Aa1/AAA) were sold competitively with Bank of America Merrill Lynch as the winning bidder.
The bonds are due 2022 to 2032 with coupons from 4% to 5%.
Proceeds will be used to refund the state board of education's series 2000B-C and 2001G PECO bonds.
| Issuer: | Florida Board of Education
|
| Issue: | Series 2011E public education capital outlay refunding bonds
|
| Amount: | $164.45 million
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch (winner)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Pricing date: | Nov. 8
|
| Settlement date: | Dec. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.58 million | 2022 | Serial | 5% | 117.297
|
| $14.12 million | 2023 | Serial | 4% | 107.855
|
| $14.71 million | 2024 | Serial | 5% | 115.148
|
| $15.465 million | 2025 | Serial | 5% | 114.091
|
| $16.265 million | 2026 | Serial | 5% | 112.7
|
| $17.1 million | 2027 | Serial | 5% | 111.756
|
| $17.965 million | 2028 | Serial | 5% | 110.905
|
| $18.895 million | 2029 | Serial | 5% | 110.062
|
| $19.88 million | 2030 | Serial | 4% | 98.712
|
| $20.7 million | 2031 | Serial | 4% | 97.747
|
| $5.77 million | 2032 | Serial | 4.25% | 100
|
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