New Issue: Fort Lauderdale, Fla., sells $337.76 million special obligation bonds

By Sheri Kasprzak

New York, Sept. 20 - The City of Fort Lauderdale, Fla., priced $337,755,000 of series 2012 taxable general obligation bonds, said a pricing sheet.

The bonds (A1/AA-/) were sold through a syndicate led by Citigroup Global Markets Inc.

The bonds are due 2013 to 2027 with a term bond due in 2032. The serial coupons range from 0.57% to 4.52%. All of the bonds except for the 2027 bonds were priced at par. The 2027 bonds were priced at 99.474. The 2032 bonds have a 5.143% coupon priced at par.

Proceeds will be used to fund a previously unfunded pension plan.

Issuer:	City of Fort Lauderdale
Issue:	Series 2012 taxable general obligation bonds
Amount:	$337,755,000
Type:	Negotiated
Underwriters:	Citigroup Global Markets Inc. (lead), Bank of America Merrill Lynch and Morgan Stanley & Co. LLC (co-managers)
Ratings:	Moody's: A1
Standard & Poor's: AA-
Pricing date:	Sept. 20
Settlement date:	Oct. 3
Amount	Maturity	Type	Coupon	Price
$16.48 million	2013	Serial	0.57%	100
$15.07 million	2014	Serial	0.72%	100
$15.23 million	2015	Serial	1.403%	100
$15.47 million	2016	Serial	1.736%	100
$15.77 million	2017	Serial	2.086%	100
$16.13 million	2018	Serial	2.46%	100
$16.68 million	2019	Serial	2.71%	100
$17,565,000	2020	Serial	3.024%	100
$19,455,000	2021	Serial	3.224%	100
$20,115,000	2022	Serial	3.424%	100
$20.84 million	2023	Serial	3.574%	100
$19,245,000	2024	Serial	3.824%	100
$17,295,000	2025	Serial	4.074%	100
$16,375,000	2026	Serial	4.324%	100
$16.52 million	2027	Serial	4.52%	99.474
$79,515,000	2032	Term	5.143%	100

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