Published on 5/3/2012 in the Prospect News Municipals Daily.
New Issue: Fort Lauderdale, Fla., prices $64.59 million of water and sewer bonds
By Sheri Kasprzak
New York, May 3 - The City of Fort Lauderdale, Fla., sold $64,585,000 of series 2012 water and sewer revenue refunding bonds, according to a term sheet.
The bonds (Aa1/AA+/) were sold competitively. The issuer did not return calls Thursday for the winning bidder.
The bonds are due 2013 to 2031 with 2% to 5% coupons.
Proceeds will be used to advance refund some of the city's outstanding water and sewer revenue bonds.
| Issuer: | Fort Lauderdale, Fla.
|
| Issue: | Series 2012 water and sewer revenue refunding bonds
|
| Amount: | $64,585,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | May 3
|
| Settlement date: | May 16
|
|
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,155,000 | 2013 | Serial | 2% | 102.124
|
| $1.17 million | 2014 | Serial | 3% | 104.618
|
| $1.18 million | 2014 | Serial | 3% | 105.665
|
| $1.21 million | 2015 | Serial | 4% | 109.339
|
| $1.22 million | 2015 | Serial | 4% | 110.649
|
| $1.25 million | 2016 | Serial | 4% | 111.727
|
| $1,275,000 | 2016 | Serial | 4% | 112.795
|
| $1,305,000 | 2017 | Serial | 3% | 109.088
|
| $1.32 million | 2017 | Serial | 5% | 119.708
|
| $1.36 million | 2018 | Serial | 5% | 120.762
|
| $1,395,000 | 2018 | Serial | 5% | 121.808
|
| $1.43 million | 2019 | Serial | 5% | 122.445
|
| $1.47 million | 2019 | Serial | 5% | 123.62
|
| $1,505,000 | 2020 | Serial | 5% | 123.573
|
| $1,545,000 | 2020 | Serial | 5% | 124.543
|
| $1,585,000 | 2021 | Serial | 4% | 116.136
|
| $1,615,000 | 2021 | Serial | 4% | 116.972
|
| $1,695,000 | 2022 | Serial | 4% | 115.503
|
| $1.65 million | 2022 | Serial | 5% | 123.884
|
| $1,725,000 | 2023 | Serial | 5% | 122.468
|
| $1,775,000 | 2023 | Serial | 5% | 122.468
|
| $1.82 million | 2024 | Serial | 5% | 121.164
|
| $1.87 million | 2024 | Serial | 5% | 121.164
|
| $1,915,000 | 2025 | Serial | 5% | 119.876
|
| $1.97 million | 2025 | Serial | 5% | 119.876
|
| $4,065,000 | 2026 | Serial | 3% | 98.5
|
| $2.08 million | 2027 | Serial | 5% | 118.154
|
| $2,135,000 | 2027 | Serial | 5% | 118.154
|
| $2.19 million | 2028 | Serial | 5% | 117.438
|
| $2.25 million | 2028 | Serial | 5% | 117.438
|
| $4,655,000 | 2029 | Serial | 3.25% | 98.75
|
| $4.82 million | 2030 | Serial | 3.25% | 98
|
| $4.98 million | 2031 | Serial | 3.25% | 98
|
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