Published on 8/19/2015 in the Prospect News Municipals Daily.
New Issue: Hillsborough County Aviation, Fla., sells $383.4 million airport bonds
By Sheri Kasprzak
New York, Aug. 19 – The Hillsborough County Aviation Authority of Florida sold $383,395,000 of series 2015 customer facility charge revenue bonds for the Tampa International Airport, according to pricing sheet.
The deal included $89.11 million of series 2015A non-AMT bonds and $294,285,000 of series 2015B taxable bonds.
The 2015A bonds are due Oct. 1, 2044 and have a 5% coupon priced at 108.737.
The 2015B bonds are due 2019 to 2030 with term bonds due in 2035 and 2041. The serial coupons range from 2.587% to 4.751%, all priced at par. The 2035 bonds have a 5.17% coupon and the 2041 bonds have a 5.25% coupon, both priced at par.
The bonds (A3/A-) were sold through Citigroup Global Markets Inc.
Proceeds will be used to finance the construction of an automated people mover connection to the main terminal at Tampa International Airport.
| Issuer: | Hillsborough County Aviation Authority/Tampa International Airport
|
| Issue: | Series 2015 customer facility charge revenue bonds
|
| Amount: | $383,395,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Raymond James/Morgan Keegan and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Pricing date: | Aug. 18
|
| Settlement date: | Sept. 3
|
|
|
| $89.11 million series 2015A non-AMT bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2044 | Term | 5% | 108.737
|
|
|
| $294,285,000 series 2015B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $8.4 million | 2019 | Serial | 2.587% | 100
|
| $8,615,000 | 2020 | Serial | 2.887% | 100
|
| $8.86 million | 2021 | Serial | 3.249% | 100
|
| $9,145,000 | 2022 | Serial | 3.549% | 100
|
| $9.47 million | 2023 | Serial | 3.751% | 100
|
| $9,825,000 | 2024 | Serial | 3.901% | 100
|
| $10,205,000 | 2025 | Serial | 3.981% | 100
|
| $10,605,000 | 2026 | Serial | 4.151% | 100
|
| $11,045,000 | 2027 | Serial | 4.301% | 100
|
| $11.52 million | 2028 | Serial | 4.451% | 100
|
| $12,025,000 | 2029 | Serial | 4.601% | 100
|
| $12.58 million | 2030 | Serial | 4.751% | 100
|
| $72,985,000 | 2035 | Term | 5.17% | 100
|
| $99,005,000 | 2041 | Term | 5.25% | 100
|
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