Published on 6/3/2016 in the Prospect News Municipals Daily.
New Issue: Florida Board of Education sells $239.25 million lottery revenue bonds
By Sheri Kasprzak
New York, June 3 – The Florida Board of Education sold $239.25 million of series 2016A lottery revenue refunding bonds, according to a pricing sheet.
The bonds (A1/AAA/AA) were sold competitively with J.P. Morgan Securities LLC winning the bid.
The bonds are due 2017 to 2027 with 5% coupons and yields from 0.64% to 2.06%.
Proceeds will be used to refund the board’s series 2005A, 2006B and 2007B general obligation bonds.
| Issuer: | Florida Board of Education
|
| Issue: | Series 2016A lottery revenue refunding bonds
|
| Amount: | $239.25 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Ratings: | Moody’s: A1
|
| S&P: AAA
|
| Fitch: AA
|
| Pricing date: | May 24
|
| Settlement date: | June 23
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $25,085,000 | 2017 | Serial | 5% | 104.435 | 0.64%
|
| $37,265,000 | 2018 | Serial | 5% | 108.492 | 0.76%
|
| $39.03 million | 2019 | Serial | 5% | 112.196 | 0.90%
|
| $22 million | 2020 | Serial | 5% | 115.602 | 1.03%
|
| $12,525,000 | 2021 | Serial | 5% | 118.681 | 1.16%
|
| $13.15 million | 2022 | Serial | 5% | 120.978 | 1.36%
|
| $13,805,000 | 2023 | Serial | 5% | 123.319 | 1.49%
|
| $28,405,000 | 2024 | Serial | 5% | 125.245 | 1.63%
|
| $15,225,000 | 2025 | Serial | 5% | 126.919 | 1.76%
|
| $15.98 million | 2026 | Serial | 5% | 127.958 | 1.92%
|
| $16.78 million | 2027 | Serial | 5% | 126.499 | 2.06%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
