By Sheri Kasprzak
New York, April 21 - The Florida Municipal Power Agency priced $169.715 million in series 2009 all-requirements power supply project revenue bonds, according to an official statement.
The bonds (A1//A+) were sold Thursday through lead manager Merrill Lynch & Co. Inc. The co-managers were J.P. Morgan Securities Inc., Morgan Keegan & Co. Inc. and Wachovia Bank.
The deal included $154.48 million in series 2009A bonds and $15.235 million in series 2009B bonds.
The 2009A bonds are due 2012 to 2028 with a term bond due 2031. The 2009B bonds are due 2019.
The 2009A serials have coupons from 3% to 5.5% and the term bond has a 6.25% coupon, priced at 103.636. The 2009B bond has a 6.4% coupon, priced at par.
The proceeds will be used to construct the agency's Cane Island Unit No. 4 and to finance obligations to Public Gas Partners Inc. under a gas supply agreement.
| Issuer: | Florida Municipal Power Agency
|
| Issue: | Series 2009 all-requirements power supply project revenue bonds
|
| Amount: | $169.715 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch & Co. Inc. (lead), J.P. Morgan Securities Inc., Morgan Keegan & Co. Inc. and Wachovia Bank (co-managers)
|
| Ratings: | Moody's: A1
|
| Fitch: A+
|
| Pricing date: | April 16
|
| Settlement date: | April 28
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 101.795
|
| 2013 | Serial | 5% | 108.746
|
| 2014 | Serial | 3.5% | 100.934
|
| 2014 | Serial | 5% | 108.326
|
| 2015 | Serial | 5% | 108.202
|
| 2016 | Serial | 5% | 107.697
|
| 2017 | Serial | 4% | 99.784
|
| 2017 | Serial | 5% | 106.868
|
| 2018 | Serial | 5% | 105.691
|
| 2019 | Serial | 4.5% | 100.079
|
| 2019 | Serial | 5% | 104.205
|
| 2020 | Serial | 5.25% | 104.488
|
| 2021 | Serial | 5.25% | 103.156
|
| 2022 | Serial | 5% | 99.899
|
| 2022 | Serial | 5.25% | 101.926
|
| 2023 | Serial | 5.25% | 100.714
|
| 2024 | Serial | 5.25% | 99.473
|
| 2024 | Serial | 5.5% | 101.581
|
| 2026 | Serial | 5.5% | 100.152
|
| 2026 | Serial | 5.25% | 97.434
|
| 2027 | Serial | 5.75% | 101.325
|
| 2028 | Serial | 5.5% | 98.008
|
| 2031 | Term | 6.25% | 103.636
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2019 | Term | 6.4% | 100.000
|
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