By Sheri Kasprzak
New York, Sept. 12 - The Florida Board of Education priced $242.24 million of series 2011A lottery revenue refunding bonds on Monday, according to a term sheet.
The bonds (A1//A+) were sold competitively.
The bonds are due 2014 to 2023 with 4% to 5% coupons.
Proceeds will be used to refund the board's series 2002C and 2003A lottery revenue bonds.
| Issuer: | Florida Board of Education
|
| Issue: | Series 2011A lottery revenue refunding bonds
|
| Amount: | $242.24 million
|
| Type: | Competitive
|
| Ratings: | Moody's: A1
|
| Fitch: A+
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 29
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $20.675 million | 2014 | Serial | 5% | 111.277
|
| $21.71 million | 2015 | Serial | 5% | 114.506
|
| $22.795 million | 2016 | Serial | 5% | 116.254
|
| $23.93 million | 2017 | Serial | 5% | 117.418
|
| $25.13 million | 2018 | Serial | 5% | 117.828
|
| $26.385 million | 2019 | Serial | 5% | 117.908
|
| $27.705 million | 2020 | Serial | 5% | 117.397
|
| $29.09 million | 2021 | Serial | 5% | 117.264
|
| $30.545 million | 2022 | Serial | 5% | 115.429
|
| $14.275 million | 2023 | Serial | 4% | 104.942
|
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