By Cristal Cody
Springdale, Ark., May 6 - Florida priced $200 million State Board of Education lottery revenue bonds with a 4.5079% true interest cost on Tuesday, the issuer told Prospect News.
The series 2008A bonds (A2/AAA/A) priced with 5% coupons to yield 2.15% to 4.89%, said Carol Bagley, bond development supervisor with the state's bond finance division.
The bonds have serial maturities from 2009 through 2027.
Merrill Lynch & Co. was the successful bidder in the competitive sale.
Proceeds will be used for school construction and for the renovation of schools.
| Issuer: | Florida State Board of Education
|
| Issue: | Lottery revenue bonds
|
| Amount: | $200 million
|
| Type: | Competitive
|
| True interest cost: | 4.5079%
|
| Coupons: | 5%
|
| Yields: | 2.15% to 4.89%
|
| Maturities: | 2009 to 2027
|
| Underwriter: | Merrill Lynch & Co.
|
| Ratings: | Moody's: A2
|
| S&P: AAA
|
| Fitch: A
|
| Pricing date: | May 6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
