By Sheri Kasprzak
New York, June 8 - The Florida Department of Transportation priced $251.08 million of series 2010B turnpike revenue bonds, said a pricing sheet.
The bonds (Aa3/AA-/AA-) were sold competitively, with Wells Fargo Securities LLC winning the bid.
The bonds are due 2011 to 2031 with term bonds due 2033, 2035, 2037 and 2040. Coupons range from 2% to 5%. The 2033 bonds have a 5% coupon priced at 103.598. The 2035 bonds have a 5% coupon priced at 102.988. The 2037 bonds have a 4.5% coupon priced at 97.25. The 2040 bonds have a 5% coupon priced at 102.554.
Proceeds from the offering will be used to finance improvements to the state's turnpike system.
| Issuer: | Florida Department of Transportation
|
| Issue: | Series 2010B turnpike revenue bonds
|
| Amount: | $251.08 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Securities LLC (winner)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | June 8
|
| Settlement date: | June 29
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 101.462
|
| 2012 | Serial | 3% | 104.062
|
| 2013 | Serial | 4% | 107.779
|
| 2014 | Serial | 5% | 112.519
|
| 2015 | Serial | 4.5% | 111.095
|
| 2016 | Serial | 5% | 113.562
|
| 2017 | Serial | 5% | 113.227
|
| 2018 | Serial | 5% | 113.151
|
| 2019 | Serial | 5% | 112.901
|
| 2020 | Serial | 5% | 112.48
|
| 2021 | Serial | 5% | 112.016
|
| 2022 | Serial | 5% | 111.126
|
| 2023 | Serial | 5% | 110.157
|
| 2024 | Serial | 5% | 109.198
|
| 2025 | Serial | 5% | 108.553
|
| 2026 | Serial | 5% | 107.905
|
| 2027 | Serial | 5% | 107.265
|
| 2028 | Serial | 5% | 106.628
|
| 2029 | Serial | 5% | 105.996
|
| 2030 | Serial | 5% | 105.368
|
| 2031 | Serial | 5% | 104.656
|
| 2033 | Term | 5% | 103.598
|
| 2035 | Term | 5% | 102.988
|
| 2037 | Term | 4.5% | 97.25
|
| 2040 | Term | 5% | 102.554
|
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