Published on 8/23/2011 in the Prospect News Municipals Daily.
New Issue: New Jersey Sports & Exposition prices $88.59 million of state contract refunding bonds
By Sheri Kasprzak
New York, Aug. 23 - The New Jersey Sports & Exposition Authority sold $88.59 million of series 2011 state contract refunding bonds, said a pricing sheet.
The offering included $45.51 million of series 2011A tax-exempt bonds and $43.08 million of series 2011B taxable bonds.
The 2011A bonds are due 2013 to 2024 with 3% to 5% coupons. The 2011B bonds are due 2013 to 2025 with 1.21% to 4.62% coupons, all priced at par.
The bonds (A2) were sold competitively. The issuer did not respond to requests for the winning bidder.
Proceeds will be used to fund certain capital projects, as well as to refund debt.
| Issuer: | New Jersey Sports & Exposition Authority
|
| Issue: | Series 2011 state contract refunding bonds
|
| Amount: | $88.59 million
|
| Type: | Competitive
|
| Rating: | Moody's: A2
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 31
|
|
|
| $45.51 million series 2011A bonds
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 5% | 106.095
|
| 2014 | Serial | 5% | 109.643
|
| 2015 | Serial | 5% | 112.546
|
| 2016 | Serial | 5% | 114.005
|
| 2017 | Serial | 5% | 114.541
|
| 2018 | Serial | 5% | 114.332
|
| 2019 | Serial | 5% | 113.558
|
| 2020 | Serial | 5% | 113.144
|
| 2021 | Serial | 3% | 96.775
|
| 2022 | Serial | 3.25% | 96.962
|
| 2023 | Serial | 3.5% | 97.225
|
| 2024 | Serial | 3.75% | 97.559
|
|
|
| $43.08 million series 2011B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $22.065 million | 2013 | Serial | 1.21% | 100
|
| $10.47 million | 2014 | Serial | 1.51% | 100
|
| $6.095 million | 2015 | Serial | 1.86% | 100
|
| $545,000 | 2016 | Serial | 2.42% | 100
|
| $555,000 | 2017 | Serial | 2.77% | 100
|
| $170,000 | 2018 | Serial | 2.97% | 100
|
| $460,000 | 2019 | Serial | 3.27% | 100
|
| $485,000 | 2020 | Serial | 4.07% | 100
|
| $530,000 | 2021 | Serial | 4.22% | 100
|
| $485,000 | 2022 | Serial | 4.32% | 100
|
| $505,000 | 2023 | Serial | 4.42% | 100
|
| $530,000 | 2024 | Serial | 4.52% | 100
|
| $185,000 | 2025 | Serial | 4.62% | 100
|
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