By Sheri Kasprzak
New York, July 1 - Orange County in California sold $233.115 million in series 2009 airport revenue bonds Wednesday, said Courtney Wiercioch, spokeswoman for the county's airport.
The bonds (Aa3/AA-/AA-) are due July 1, 2039, and priced with a true interest cost of 5.147356%.
Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. were the senior managers. The co-managers were Banc of America Securities LLC and J.P. Morgan Securities Inc.
Proceeds will fund improvements to John Wayne Airport, including the construction of a new terminal and a new parking structure.
The county seat of Orange County is Santa Ana, Calif.
| Issuer: | Orange County, Calif.
|
| Issue: | Series 2009 airport revenue bonds
|
| Amount: | $233.115 million
|
| Type: | Negotiated
|
| Maturity: | July 1, 2039
|
| TIC: | 5.147356%
|
| Underwriters: | Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. (lead); Banc of America Securities LLC and J.P. Morgan Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | July 1
|
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