Published on 4/27/2016 in the Prospect News Municipals Daily.
New Issue: Fort Lauderdale, Fla., prices $158.93 million water, sewer bonds
By Sheri Kasprzak
New York, April 27 – The City of Fort Lauderdale, Fla., sold $158.93 million of series 2016 water and sewer revenue and revenue refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA+) were sold through Raymond James/Morgan Keegan.
The bonds are due 2016 to 2038 with 2% to 5% coupons and yields from 0.33% to 3.08%.
Proceeds will be used to finance capital improvements to the water and sewer systems and refund the city’s series 2008 and 2010 water and sewer revenue bonds.
| Issuer: | Fort Lauderdale, Fla.
|
| Issue: | Series 2016 water and sewer revenue and revenue refunding bonds
|
| Amount: | $158.93 million
|
| Type: | Negotiated
|
| Underwriter: | Raymond James/Morgan Keegan
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Pricing date: | April 27
|
| Settlement date: | May 4
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,655,000 | 2016 | Serial | 5% | 101.515 | 0.33%
|
| $4,015,000 | 2017 | Serial | 5% | 103.631 | 0.58%
|
| $4,025,000 | 2017 | Serial | 5% | 105.742 | 0.64%
|
| $4,215,000 | 2018 | Serial | 5% | 107.821 | 0.68%
|
| $4.22 million | 2018 | Serial | 5% | 109.825 | 0.73%
|
| $3,445,000 | 2019 | Serial | 5% | 111.767 | 0.78%
|
| $3.44 million | 2019 | Serial | 5% | 113.611 | 0.84%
|
| $3,625,000 | 2020 | Serial | 5% | 115.38 | 0.90%
|
| $3,625,000 | 2020 | Serial | 5% | 117.073 | 0.96%
|
| $2,615,000 | 2021 | Serial | 5% | 118.535 | 1.05%
|
| $2,615,000 | 2021 | Serial | 5% | 120.001 | 1.12%
|
| $1,545,000 | 2022 | Serial | 5% | 121.378 | 1.19%
|
| $1.55 million | 2022 | Serial | 5% | 122.667 | 1.26%
|
| $1,625,000 | 2023 | Serial | 4% | 118.115 | 1.39%
|
| $1.63 million | 2023 | Serial | 5% | 123.94 | 1.32%
|
| $1,695,000 | 2024 | Serial | 4% | 118.797 | 1.45%
|
| $1.7 million | 2024 | Serial | 4% | 119.408 | 1.51%
|
| $1,765,000 | 2025 | Serial | 4% | 118.635 | 1.60%
|
| $1,765,000 | 2025 | Serial | 4% | 118.207 | 1.65%
|
| $1.83 million | 2026 | Serial | 4% | 117.697 | 1.71%
|
| $1.85 million | 2026 | Serial | 2% | 99.628 | 2.04%
|
| $3.47 million | 2027 | Serial | 2% | 98.843 | 2.12%
|
| $3,475,000 | 2027 | Serial | 2% | 98.398 | 2.16%
|
| $7,095,000 | 2028 | Serial | 3% | 105.429 | 2.28%
|
| $3.83 million | 2029 | Serial | 3% | 103.887 | 2.48%
|
| $3,965,000 | 2030 | Serial | 3% | 102.597 | 2.65%
|
| $4,105,000 | 2031 | Serial | 3% | 102.221 | 2.70%
|
| $6,665,000 | 2032 | Serial | 3.125% | 103.904 | 2.60%
|
| $6.67 million | 2032 | Serial | 3.125% | 103.904 | 2.60%
|
| $6.88 million | 2033 | Serial | 3.125% | 103.449 | 2.66%
|
| $6,875,000 | 2033 | Serial | 3.125% | 103.449 | 2.66%
|
| $7,095,000 | 2034 | Serial | 3.25% | 103.922 | 2.72%
|
| $7,095,000 | 2034 | Serial | 3.25% | 103.922 | 2.72%
|
| $7.33 million | 2035 | Serial | 3.375% | 104.392 | 2.78%
|
| $7.33 million | 2035 | Serial | 3.375% | 104.392 | 2.78%
|
| $6.5 million | 2036 | Serial | 3.375% | 104.014 | 2.83%
|
| $6,495,000 | 2036 | Serial | 3.375% | 104.014 | 2.83%
|
| $4.24 million | 2037 | Serial | 3% | 99.528 | 3.03%
|
| $4,365,000 | 2038 | Serial | 3% | 98.712 | 3.08%
|
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