By Cristal Cody
Tupelo, Miss., Sept. 12 - Florida priced $157.95 million revenue bonds for the Department of Environmental Protection with a 4.6521% true interest cost, a source said Friday.
The series 2008B Florida Forever bonds (A1/AA-/A+) priced with 3.5% to 5.25% coupons to yield 2.19% to 5.05%.
The bonds have serial maturities from 2009 through 2028.
Merrill Lynch & Co. was the winning bidder out of seven bids in the competitive sale on Thursday.
Proceeds will be used to finance the acquisition and improvement of lands, water areas and other resources for restoration, conservation, recreation and water resource development or historical preservation.
| Issuer: | Florida/Department of Environmental Protection
|
| Issue: | Series 2008B revenue bonds
|
| Amount: | $157.95 million
|
| Type: | Competitive
|
| True interest cost: | 4.6521%
|
| Coupons: | 3.5%-5.25%
|
| Yields: | 2.19%-5.05%
|
| Maturities: | 2009-2028
|
| Underwriter: | Merrill Lynch & Co.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: A+
|
| Pricing date: | Sept. 11
|
| Settlement date: | Oct. 2
|
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