By Sheri Kasprzak
New York, Jan. 7 - The Florida Department of Environmental Protection sold Thursday $251 million in series 2010 Florida Forever bonds, said a pricing sheet.
The deal included $235 million in series 2010A Florida Forever bonds, $10 million in series 2010B Build America Bonds and $6 million in series 2010C tax-exempt bonds.
The 2010A bonds are due 2010 to 2017 with a term bond due 2025 and have coupons from 2% to 5%. The 2010B bonds are due from 2018 to 2024 with a term bond due 2029. The serials have coupons from 5.306% to 6.406%, all priced at par. The 2029 bonds have a 7.045% coupon, priced at par. The 2010C bonds are due 2010 to 2013 with 2% to 5% coupons.
The bonds (A1/AA/A) were sold through senior manager Merrill Lynch & Co.
Proceeds will be used to fund environmental protection projects throughout the state.
| Issuer: | Florida Departmental of Environmental Protection
|
| Issue: | Series 2010 Florida Forever bonds
|
| Amount: | $251 million
|
| Type: | Negotiated
|
| Underwriter: | Merrill Lynch & Co.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA
|
| Fitch: A
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 28
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | NRO
|
| 2011 | Serial | 2% | 101.553
|
| 2012 | Serial | 4% | 106.177
|
| 2013 | Serial | 2.5% | 102.18
|
| 2013 | Serial | 5% | 110.441
|
| 2014 | Serial | 5% | 111.787
|
| 2015 | Serial | 3% | 101.655
|
| 2015 | Serial | 5% | 111.692
|
| 2016 | Serial | 4% | 105.026
|
| 2016 | Serial | 5% | 110.805
|
| 2017 | Serial | 3.25% | 98.827
|
| 2017 | Serial | 5% | 110.211
|
| 2025 | Term | 4.25% | 98.33
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2018 | Serial | 5.306% | Par
|
| 2019 | Serial | 5.456% | Par
|
| 2020 | Serial | 5.756% | Par
|
| 2021 | Serial | 6.026% | Par
|
| 2022 | Serial | 6.206% | Par
|
| 2023 | Serial | 6.306% | Par
|
| 2024 | Serial | 6.406% | Par
|
| 2029 | Term | 7.045% | Par
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | NRO
|
| 2011 | Serial | 4% | 104.378
|
| 2012 | Serial | 4% | 106.177
|
| 2013 | Serial | 5% | 110.441
|
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