By Sheri Kasprzak
New York, March 12 – The City of Houston priced $289,825,000 of series 2015 airport system special facilities revenue refunding bonds for United Airlines Inc., according to a pricing sheet.
The offering included $176.65 million of series 2015B-1 AMT refunding bonds, $47.39 million of series 2015B-2 AMT refunding bonds and $65,785,000 of series 2015C AMT refunding bonds.
The 2015B-1 bonds are due 2030 and 2035 with 5% coupons and 4.48% to 4.6% yields.
The 2015B-2 bonds are due in 2020 and have a 5% coupon priced at 106.847 to yield 3.57%.
The 2015C bonds are due in 2020 and have a 5% coupon priced at 105.61 to yield 3.82%.
The bonds were sold through Citigroup Global Markets Inc.
Proceeds will be used to refund existing debt issued for the airline.
| Issuer: | City of Houston/United Airlines Inc.
|
| Issue: | Series 2015 airport system special facilities revenue refunding bonds
|
| Amount: | $289,825,000
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Pricing date: | March 11
|
| Settlement date: | March 26
|
|
|
| $176.65 million series 2015B-1 AMT refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $77,605,000 | 2030 | Term | 5% | 104.247 | 4.48%
|
| $99,045,000 | 2035 | Term | 5% | 103.246 | 4.60%
|
|
|
| $47.39 million series 2015B-2 AMT refunding bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| 2020 | Term | 5% | 106.847 | 3.57%
|
|
|
| $65,785,000 series 2015C AMT refunding bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| 2020 | Term | 5% | 105.61 | 3.82%
|
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