By Sheri Kasprzak
New York, March 30 - The Florida Board of Education priced $173.045 million of series 2011B public education capital outlay bonds on Wednesday, said a pricing sheet.
Merrill Lynch was the winning bidder for the competitive offering.
The bonds (Aa1/AAA) are due 2013 to 2022 with 5% coupons across the board.
Proceeds from the sale will be used to refund existing PECO bonds.
| Issuer: | Florida Board of Education
|
| Issue: | Series 2011B public education capital outlay bonds
|
| Amount: | $173.045 million
|
| Type: | Competitive
|
| Underwriter: | Merrill Lynch (winner)
|
| Ratings: | Moody's: Aa1
|
| Fitch: AAA
|
| Pricing date: | March 30
|
| Settlement date: | April 21
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $11.58 million | 2013 | Serial | 5% | 108.334
|
| $15.26 million | 2014 | Serial | 5% | 110.92
|
| $15.9 million | 2015 | Serial | 5% | 112.117
|
| $16.565 million | 2016 | Serial | 5% | 112.998
|
| $17.295 million | 2017 | Serial | 5% | 113.477
|
| $18.1 million | 2018 | Serial | 5% | 113.266
|
| $18.98 million | 2019 | Serial | 5% | 112.69
|
| $19.94 million | 2020 | Serial | 5% | 111.777
|
| $20.95 million | 2021 | Serial | 5% | 110.054
|
| $18.475 million | 2022 | Serial | 5% | 108.682
|
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