Published on 4/22/2016 in the Prospect News Municipals Daily.
New Issue: Florida Board of Education prices $192.15 million PECO refunding bonds
By Sheri Kasprzak
New York, April 22 – The Florida Board of Education sold $192.15 million of series 2016B public education outlay refunding bonds, according to a pricing sheet. The deal was upsized from $183,325,000.
The bonds (//AAA) were sold competitively. The issuer did not immediately respond to requests for the winning bidder.
The bonds are due 2018 to 2037 with 2.5% to 5% coupons and yields from 0.73% to 3.1%.
Proceeds will be used to refund the board’s series 2006C PECO bonds.
| Issuer: | Florida Board of Education
|
| Issue: | Series 2016B public education capital outlay refunding bonds
|
| Amount: | $192.15 million
|
| Type: | Competitive
|
| Rating: | Fitch: AAA
|
| Pricing date: | April 21
|
| Settlement date: | May 19
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6.08 million | 2018 | Serial | 5% | 108.602 | 0.73%
|
| $6,385,000 | 2019 | Serial | 5% | 112.561 | 0.80%
|
| $6.7 million | 2020 | Serial | 5% | 115.902 | 0.97%
|
| $7,035,000 | 2021 | Serial | 5% | 118.883 | 1.13%
|
| $7,385,000 | 2022 | Serial | 5% | 121.467 | 1.29%
|
| $7.76 million | 2023 | Serial | 5% | 123.806 | 1.43%
|
| $8,145,000 | 2024 | Serial | 5% | 126.395 | 1.50%
|
| $8,555,000 | 2025 | Serial | 5% | 128.103 | 1.64%
|
| $8.98 million | 2026 | Serial | 5% | 129.893 | 1.74%
|
| $9.43 million | 2027 | Serial | 5% | 128.723 | 1.85%
|
| $9.9 million | 2028 | Serial | 2.5% | 101.243 | 2.36%
|
| $10.15 million | 2029 | Serial | 4% | 115.153 | 2.30%
|
| $10,555,000 | 2030 | Serial | 3% | 102.443 | 2.72%
|
| $10.87 million | 2031 | Serial | 4% | 113.712 | 2.45%
|
| $11.31 million | 2032 | Serial | 4% | 113.142 | 2.51%
|
| $11.76 million | 2033 | Serial | 4% | 112.575 | 2.57%
|
| $12,225,000 | 2034 | Serial | 3% | 100 | 3.00%
|
| $12,595,000 | 2035 | Serial | 3% | 99.424 | 3.04%
|
| $12,975,000 | 2036 | Serial | 3% | 98.809 | 3.08%
|
| $13,355,000 | 2037 | Serial | 3% | 98.462 | 3.10%
|
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