By Sheri Kasprzak
New York, Nov. 10 – The Florida Development Finance Corp. sold $95.98 million of series 2015 educational facilities revenue bonds for the Renaissance Charter School Inc., according to a pricing sheet.
The bonds were sold through BB&T Capital Markets.
The deal included $86,835,000 of series 2015A tax-exempt bonds and $9,145,000 of series 2015B taxable bonds.
The 2015A bonds are due in 2025, 2035 and 2046. The 2025 bonds have a 5% coupon priced at par, and the 2035 bonds have a 6% coupon priced at 100.138 to yield 5.98%. The 2046 bonds have a 6.125% coupon priced at 98.701 to yield 6.22%.
The 2015B bonds are due in 2020 and 2025. The 2020 bonds have a 6.125% coupon priced at par, and the 2025 bonds have a 7.25% coupon priced at par.
Proceeds will be used to finance capital improvements to school facilities.
| Issuer: | Florida Development Finance Corp./Renaissance Charter School Inc.
|
| Issue: | Series 2015 educational facilities revenue bonds
|
| Amount: | $95.98 million
|
| Type: | Negotiated
|
| Underwriter: | BB&T Capital Markets
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 19
|
|
|
| $86,835,000 series 2015A tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.88 million | 2025 | Term | 5% | 100 | 5.00%
|
| $24,735,000 | 2035 | Term | 6% | 100.138 | 5.98%
|
| $58.22 million | 2046 | Term | 6.125% | 98.701 | 6.22%
|
|
|
| $9,145,000 series 2015B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4.23 million | 2020 | Term | 6.125% | 100 | 6.125%
|
| $4,915,000 | 2025 | Term | 7.25% | 100 | 7.25%
|
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