Published on 3/26/2014 in the Prospect News Municipals Daily.
New Issue: Anaheim Public Financing Authority, Calif., sells $265.03 million bonds
By Sheri Kasprzak
New York, March 26 - The Anaheim Public Financing Authority of California sold $265.03 million of series 2014 lease revenue bonds for the Anaheim Convention Center, said a pricing sheet.
The deal included $257.55 million of series 2014A bonds and $7.48 million of series 2014B taxable bonds
The 2014A bonds are due 2015 to 2031 and 2034 to 2039 with a term bond due in 2046. The serial coupons range from 2% to 5.25% with 0.20% to 4.54% yields. The 2046 bonds have a 5% coupon priced at 104.419 to yield 4.45%.
The 2014B bonds are due 2015 to 2016 with coupons from 0.50% to 0.85% both priced at par.
The bonds (/AA-/AA-) were sold through Citigroup Global Markets Inc.
Proceeds will be used to finance the expansion and improvement of the convention center and to retire existing certificates and bonds.
| Issuer: | Anaheim Public Financing Authority/Anaheim Convention Center
|
| Issue: | Series 2014 lease revenue bonds
|
| Amount: | $265.03 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), BofA Merrill Lynch, De La Rosa & Co. Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | March 26
|
| Settlement date: | April 8
|
|
|
| $257.55 million series 2014A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $5.88 million | 2015 | Serial | 2% | 101.911 | 0.20%
|
| $6.75 million | 2016 | Serial | 3% | 104.936 | 0.59%
|
| $5,965,000 | 2017 | Serial | 3% | 106.206 | 0.94%
|
| $1,405,000 | 2018 | Serial | 4% | 110.82 | 1.26%
|
| $2,285,000 | 2019 | Serial | 4% | 111.267 | 1.67%
|
| $3,245,000 | 2020 | Serial | 5% | 116.367 | 2.11%
|
| $4.34 million | 2021 | Serial | 5% | 116.165 | 2.49%
|
| $4,855,000 | 2022 | Serial | 5% | 116.014 | 2.77%
|
| $5,095,000 | 2023 | Serial | 5% | 115.853 | 2.99%
|
| $5.35 million | 2024 | Serial | 5% | 115.66 | 3.17%
|
| $5.62 million | 2025 | Serial | 5% | 113.995 | 3.35%
|
| $5.9 million | 2026 | Serial | 5% | 112.81 | 3.48%
|
| $6,195,000 | 2027 | Serial | 5% | 111.55 | 3.62%
|
| $6,505,000 | 2028 | Serial | 5% | 110.572 | 3.73%
|
| $6.83 million | 2029 | Serial | 5% | 109.604 | 3.84%
|
| $7.17 million | 2030 | Serial | 5.25% | 111.057 | 3.91%
|
| $7,545,000 | 2031 | Serial | 5.25% | 110.269 | 4.00%
|
| $21,925,000 | 2034 | Serial | 4.125% | 97.006 | 4.35%
|
| $2.9 million | 2034 | Serial | 5% | 106.423 | 4.21%
|
| $8,995,000 | 2035 | Serial | 4.75% | 102.818 | 4.40%
|
| $9.42 million | 2036 | Serial | 4.75% | 102.491 | 4.44%
|
| $9.87 million | 2037 | Serial | 4.75% | 102.165 | 4.48%
|
| $10,335,000 | 2038 | Serial | 4.75% | 101.921 | 4.51%
|
| $10,825,000 | 2039 | Serial | 4.75% | 101.678 | 4.54%
|
| $92,345,000 | 2046 | Term | 5% | 104.419 | 4.45%
|
|
|
| $7.48 million series 2014B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,725,000 | 2015 | Serial | 0.50% | 100 | 0.50%
|
| $3,755,000 | 2016 | Serial | 0.85% | 100 | 0.85%
|
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