Published on 3/21/2016 in the Prospect News Municipals Daily.
New Issue: Florida Department of Transportation prices $113.35 million of bonds
By Sheri Kasprzak
New York, March 21 – The Florida Department of Transportation sold $113.35 million of series 2016B turnpike refunding revenue bonds, according to a pricing sheet.
The bonds (Aa2) were sold competitively.
The bonds are due 2017 to 2027 with 2.5% to 5% coupons and yields from 0.66% to 2.56%.
Proceeds will be used to refund existing turnpike revenue bonds.
Issuer: | Florida Department of Transportation
|
Issue: | Series 2016B turnpike refunding revenue bonds
|
Amount: | $113.35 million
|
Type: | Competitive
|
Rating: | Moody’s: Aa2
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Pricing date: | March 21
|
Settlement date: | April 21
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$7,295,000 | 2017 | Serial | 5% | 105.154 | 0.66%
|
$7.66 million | 2018 | Serial | 5% | 109.094 | 0.81%
|
$8.02 million | 2019 | Serial | 5% | 112.577 | 0.99%
|
$8,445,000 | 2020 | Serial | 5% | 115.586 | 1.18%
|
$8.87 million | 2021 | Serial | 5% | 118.193 | 1.36%
|
$9.31 million | 2022 | Serial | 5% | 120.496 | 1.52%
|
$9,775,000 | 2023 | Serial | 5% | 122.559 | 1.66%
|
$10.26 million | 2024 | Serial | 5% | 123.675 | 1.87%
|
$10,775,000 | 2025 | Serial | 5% | 125.078 | 2.00%
|
$11,315,000 | 2026 | Serial | 2.5% | 101.647 | 2.30%
|
$21,625,000 | 2027 | Serial | 2.625% | 100.527 | 2.56%
|
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