By Sheri Kasprzak
New York, March 25 - The Metropolitan Washington Airports Authority priced $236.825 million in series 2009B airport system revenue bonds, said a sellside source connected to the sale.
The bonds (Aa3/AA-/AA) were sold through senior manager Siebert Brandford Shank & Co. LLC. The co-managers included Morgan Stanley & Co. Inc.; Banc of America Securities LLC; Barclays Capital Inc.; Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Loop Capital Markets, LLC; Merrill Lynch & Co.; and Morgan Keegan & Co., Inc.
The bonds are due 2010 to 2029 with coupons from 3% to 5.25%.
Proceeds will be used to fund capital airport projects, to refinance a portion of the authority's outstanding series one revenue commercial paper notes and to terminate interest rate swap agreements with Wachovia Bank and Bank of Montreal.
| Issuer: | Metropolitan Washington Airports Authority
|
| Issue: | Series 2009B airport system revenue bonds
|
| Amount: | $236.825 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC (lead); Morgan Stanley & Co. Inc.; Banc of America Securities LLC; Barclays Capital Inc.; Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Loop Capital Markets, LLC; Merrill Lynch & Co.; and Morgan Keegan & Co., Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
| Pricing date: | March 24
|
| Settlement date: | April 1
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2010 | Serial | 3% | 1.32% | 102.487
|
| 2011 | Serial | 3% | 1.96% | 102.525
|
| 2011 | Serial | 4.5% | 1.96% | 106.167
|
| 2012 | Serial | 3% | 2.24% | 102.544
|
| 2013 | Serial | 3% | 2.68% | 101.348
|
| 2014 | Serial | 3% | 3.10% | 99.497
|
| 2015 | Serial | 4% | 3.35% | 103.768
|
| 2015 | Serial | 5% | 3.35% | 109.566
|
| 2016 | Serial | 4% | 3.58% | 102.741
|
| 2016 | Serial | 5% | 3.58% | 109.267
|
| 2017 | Serial | 4% | 3.61% | 102.832
|
| 2017 | Serial | 4% | 3.81% | 101.368
|
| 2017 | Serial | 5% | 3.61% | 110.096
|
| 2018 | Serial | 3.75% | 3.80% | 99.604
|
| 2018 | Serial | 4% | 4.00% | 100.000
|
| 2018 | Serial | 5% | 3.80% | 109.494
|
| 2019 | Serial | 3.9% | 3.99% | 99.234
|
| 2019 | Serial | 4.1% | 4.19% | 99.241
|
| 2019 | Serial | 5% | 3.99% | 108.594
|
| 2019 | Serial | 5% | 4.19% | 106.824
|
| 2020 | Serial | 4.125% | 4.18% | 99.501
|
| 2020 | Serial | 4.3% | 4.38% | 99.283
|
| 2020 | Serial | 5% | 4.18% | 106.911
|
| 2021 | Serial | 4.3% | 4.35% | 99.521
|
| 2021 | Serial | 4.5% | 4.55% | 99.527
|
| 2021 | Serial | 5% | 4.55% | 103.723
|
| 2022 | Serial | 4.5% | 4.50% | 100.000
|
| 2022 | Serial | 5% | 4.68% | 102.63
|
| 2023 | Serial | 5% | 4.82% | 101.469
|
| 2023 | Serial | 4.5% | 4.70% | 97.914
|
| 2024 | Serial | 4.75% | 4.80% | 99.457
|
| 2024 | Serial | 5% | 4.80% | 101.634
|
| 2024 | Serial | 5.25% | 4.91% | 102.763
|
| 2025 | Serial | 5.25% | 5.03% | 101.777
|
| 2026 | Serial | 5.00% | 5.00% | 100.000
|
| 2029 | Serial | 5% | 5.12% | 98.487
|
| 2029 | Serial | 5% | 5.27% | 96.640
|
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