By Sheri Kasprzak
New York, Aug. 12 - The Florida Department of Environmental Protection came to market with $127.92 million of series 2011A Florida Forever revenue refunding bonds, according to a pricing sheet.
The bonds (A1/A) were sold competitively with J.P. Morgan Securities LLC winning the bid.
The bonds are due 2012 to 2021 with 3% to 5% coupons.
Proceeds will be used to refund certain outstanding Florida Forever revenue bonds for a net present value savings without extending maturities. The department achieved a $14.5 million present value debt service savings, said Jennifer Diaz, spokeswoman for the department.
| Issuer: | Florida Department of Environmental Protection
|
| Issue: | Series 2011A Florida Forever revenue refunding bonds
|
| Amount: | $127.92 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Pricing date: | Aug. 12
|
| Settlement date: | Sept. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $29.9 million | 2012 | Serial | 3% | 102.275
|
| $30.53 million | 2013 | Serial | 4% | 106.367
|
| $7.075 million | 2014 | Serial | 5% | 111.959
|
| $7.425 million | 2015 | Serial | 5% | 115.255
|
| $7.79 million | 2016 | Serial | 5% | 117.464
|
| $8.175 million | 2017 | Serial | 5% | 118.557
|
| $8.585 million | 2018 | Serial | 5% | 119.018
|
| $9.015 million | 2019 | Serial | 5% | 118.97
|
| $9.465 million | 2020 | Serial | 5% | 119.313
|
| $9.96 million | 2021 | Serial | 5% | 119.613
|
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