Published on 1/28/2014 in the Prospect News Municipals Daily.
New Issue: Florida Department of Transportation prices $138.15 million of bonds
By Sheri Kasprzak
New York, Jan. 28 - The Florida Department of Transportation sold $138,145,000 of series 2014 seaport investment program revenue bonds, said a pricing sheet.
The bonds (Aa3//AA) were sold through competitive bid with J.P. Morgan Securities LLC as the winner.
The bonds are due 2% to 5% coupons with 0.15% to 4.20% yields.
Proceeds will be used to finance seaport capital improvements.
Issuer: | Florida Department of Transportation
|
Issue: | Series 2014 seaport investment program revenue bonds
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Amount: | $138,145,000
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Type: | Competitive
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Underwriter: | J.P. Morgan Securities LLC (winner)
|
Ratings: | Moody's: Aa3
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| Fitch: AA
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Pricing date: | Jan. 28
|
Settlement date: | Feb. 20
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$6,195,000 | 2014 | Serial | 2% | 100.672 | 0.15%
|
$2,145,000 | 2015 | Serial | 5% | 106.434 | 0.27%
|
$2.25 million | 2016 | Serial | 5% | 110.711 | 0.44%
|
$2,365,000 | 2017 | Serial | 5% | 114.342 | 0.68%
|
$2,485,000 | 2018 | Serial | 5% | 116.85 | 1.04%
|
$2,605,000 | 2019 | Serial | 5% | 118.652 | 1.38%
|
$2.74 million | 2020 | Serial | 5% | 118.893 | 1.84%
|
$2,875,000 | 2021 | Serial | 5% | 119.161 | 2.17%
|
$3.02 million | 2022 | Serial | 5% | 119.175 | 2.45%
|
$3.17 million | 2023 | Serial | 5% | 119.371 | 2.65%
|
$3.33 million | 2024 | Serial | 5% | 117.647 | 2.84%
|
$3,495,000 | 2025 | Serial | 5% | 116.39 | 2.98%
|
$3.67 million | 2026 | Serial | 5% | 115.248 | 3.11%
|
$3,855,000 | 2027 | Serial | 5% | 114.113 | 3.24%
|
$4,045,000 | 2028 | Serial | 5% | 113.164 | 3.35%
|
$4,245,000 | 2029 | Serial | 5% | 112.223 | 3.46%
|
$4.46 million | 2030 | Serial | 5% | 111.461 | 3.55%
|
$4,685,000 | 2031 | Serial | 5% | 110.705 | 3.64%
|
$4,915,000 | 2032 | Serial | 5% | 110.038 | 3.72%
|
$5,165,000 | 2033 | Serial | 4% | 98.668 | 4.10%
|
$5.37 million | 2034 | Serial | 4% | 97.947 | 4.15%
|
$5,585,000 | 2035 | Serial | 4% | 97.193 | 4.20%
|
$5.81 million | 2036 | Serial | 5% | 108.228 | 3.94%
|
$6.1 million | 2037 | Serial | 5% | 107.903 | 3.98%
|
$6,405,000 | 2038 | Serial | 5% | 107.579 | 4.02%
|
$21.2 million | 2041 | Term | 5% | 106.854 | 4.11%
|
$15.96 million | 2043 | Term | 5% | 106.614 | 4.14%
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