By Sheri Kasprzak
New York, April 10 - The Florida Hurricane Catastrophe Fund Finance Corp. priced $2 billion of series 2013A revenue bonds, according to a pricing sheet.
The bonds (Aa3/AA-/AA) were sold through Barclays.
The bonds are due 2016, 2018 and 2020. The 2016 bonds have a 1.298% coupon, the 2018 bonds have a 2.107% coupon and the 2020 bonds have a 2.995% coupon, all priced at par.
Proceeds will be used to increase the corporation's cash-on-hand ahead of the 2013 hurricane season.
| Issuer: | Florida Hurricane Catastrophe Fund Finance Corp.
|
| Issue: | Series 2013A revenue bonds
|
| Amount: | $2 billion
|
| Type: | Negotiated
|
| Underwriter: | Barclays (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
| Pricing date: | April 10
|
| Settlement date: | April 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $500 million | 2016 | Term | 1.298% | 100
|
| $500 million | 2018 | Term | 2.107% | 100
|
| $1 billion | 2020 | Term | 2.995% | 100
|
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