Published on 2/8/2012 in the Prospect News Municipals Daily.
New Issue: Florida Board of Education prices $285.82 million refunding bonds
By Sheri Kasprzak
New York, Feb. 8 - The Florida Board of Education came to market Wednesday with $285.82 million of series 2012A public education capital outlay refunding bonds, according to a pricing sheet.
The bonds (Aa1/AAA/) were sold competitively with Wells Fargo Securities LLC as the winning bidder.
The bonds are due 2013 to 2023 with 2.5% to 5% coupons.
Proceeds will be used to refund outstanding PECO bonds for a debt service savings.
| Issuer: | Florida Board of Education
|
| Issue: | Series 2012A public education capital outlay refunding bonds
|
| Amount: | $285.82 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Securities LLC (winner)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Pricing date: | Feb. 8
|
| Settlement date: | March 6
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $28.11 million | 2013 | Serial | 5% | 105.858
|
| $34,415,000 | 2014 | Serial | 5% | 110.3
|
| $36.43 million | 2015 | Serial | 5% | 114.148
|
| $38,205,000 | 2016 | Serial | 5% | 117.732
|
| $36,625,000 | 2017 | Serial | 5% | 121.036
|
| $34.12 million | 2018 | Serial | 5% | 122.764
|
| $17.38 million | 2019 | Serial | 5% | 124.3
|
| $14,235,000 | 2020 | Serial | 5% | 124.998
|
| $14.94 million | 2021 | Serial | 4% | 117.063
|
| $15.49 million | 2022 | Serial | 2.5% | 102.916
|
| $15.87 million | 2023 | Serial | 3% | 105.792
|
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