By Sheri Kasprzak
New York, July 27 - The Florida Governmental Utility Authority sold $62.44 million in series 2010 North Fort Myers Utility System revenue bonds (A2) on Thursday, according to an official statement.
The offering included $9.965 million in series 2010A tax-exempt bonds and $52.475 million in series 2010B Build America Bonds.
Wells Fargo Securities LLC was the senior manager.
The 2010A bonds are due 2013 to 2020 with coupons from 2.5% to 3.75%. Yields range from 1.9% to 3.98%.
The 2010B bonds are due 2025, 2030 and 2040. The 2025 bonds have a 6.584% coupon priced at par, and the 2030 bonds have a 6.884% coupon priced at par. The 2040 bonds have a 7.084% coupon priced at par.
Proceeds will be used to fund improvements to the North Fort Myers Utility System.
| Issuer: | Florida Governmental Utility Authority
|
| Issue: | Series 2010 North Fort Myers Utility System
|
| Amount: | $62.44 million
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC (lead)
|
| Rating: | Moody's: A2
|
| Pricing date: | July 22
|
| Settlement date: | July 30
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Yield
|
| 2013 | Serial | 2.5% | 1.90%
|
| 2014 | Serial | 3% | 2.23%
|
| 2015 | Serial | 3% | 2.76%
|
| 2016 | Serial | 3% | 3.18%
|
| 2017 | Serial | 3.25% | 3.42%
|
| 2018 | Serial | 3.375% | 3.66%
|
| 2019 | Serial | 3.625% | 3.84%
|
| 2020 | Serial | 3.75% | 3.98%
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Yield
|
| 2025 | Term | 6.584% | 6.584%
|
| 2030 | Term | 6.884% | 6.884%
|
| 2040 | Term | 7.084% | 7.084%
|
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