By Sheri Kasprzak
New York, Oct. 28 - The cities of Dallas and Fort Worth in Texas priced $304.395 million in a slightly upsized offering of series 2010A joint revenue improvement bonds on Thursday for the Dallas-Fort Worth International Airport, according to a term sheet. The original offering size was $301 million.
The bonds (A1) were sold through Jefferies & Co. and Loop Capital Markets LLC with Barclays Capital Inc., Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Stifel, Nicolaus & Co. as the co-managers.
The bonds are due 2038, 2042 and 2045 with 5% to 5.25% coupons.
Proceeds will be used to finance capital improvements at the Dallas-Fort Worth International Airport, including terminal renewals and improvements.
| Issuer: | Dallas/Fort Worth, Texas (Dallas-Fort Worth International Airport)
|
| Issue: | Series 2010A joint revenue improvement bonds
|
| Amount: | $304.395 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. and Loop Capital Markets LLC (lead), Barclays Capital Inc., Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Stifel, Nicolaus & Co. (co-managers)
|
| Rating: | Moody's: A1
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $50 million | 2038 | Term | 5.25% | 107.69
|
| $134.675 million | 2042 | Term | 5% | 100
|
| $119.72 million | 2045 | Term | 5% | 99.343
|
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