By Sheri Kasprzak
New York, Feb. 15 - The Florida Board of Education sold $336.75 million of series 2011A refunding public education capital outlay bonds on Tuesday, said a pricing sheet.
The bonds (Aa1/AAA/AAA) were sold competitively with Bank of America Merrill Lynch winning the bid.
The bonds are due 2012 to 2023 with 3% to 5% coupons.
Proceeds will be used to refund outstanding PECO bonds for debt service savings.
| Issuer: | Florida Board of Education
|
| Issue: | Series 2011A refunding public education capital outlay bonds
|
| Amount: | $336.75 million
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Feb. 15
|
| Settlement date: | March 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $23.485 million | 2012 | Serial | 3% | 102.812
|
| $24.255 million | 2013 | Serial | 5% | 108.337
|
| $25.55 million | 2014 | Serial | 5% | 110.66
|
| $26.82 million | 2015 | Serial | 5% | 111.763
|
| $28.165 million | 2016 | Serial | 5% | 112.915
|
| $29.685 million | 2017 | Serial | 5% | 112.982
|
| $31.17 million | 2018 | Serial | 5% | 112.909
|
| $32.805 million | 2019 | Serial | 5% | 112.16
|
| $34.515 million | 2020 | Serial | 5% | 111.322
|
| $36.265 million | 2021 | Serial | 5% | 109.263
|
| $21.52 million | 2022 | Serial | 4% | 99.102
|
| $22.515 million | 2023 | Serial | 5% | 106.141
|
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