By Sheri Kasprzak
New York, May 28 – Orange County, Fla., sold $154.2 million of series 2015 tourist development tax refunding revenue bonds, according to a pricing sheet. The offering was downsized from $170.07 million.
The bonds (Aa3/AA-/AA) were sold competitively with J.P. Morgan Securities LLC winning the bid.
The bonds are due 2016 to 2031 with 2% to 5% coupons and 0.47% to 3.32% yields.
Proceeds will be used to current refund the county’s series 2005 tourist development tax refunding revenue bonds.
| Issuer: | Orange County, Fla.
|
| Issue: | Series 2015 tourist development tax refunding revenue bonds
|
| Amount: | $154.2 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Fitch: AA
|
| Pricing date: | May 28
|
| Settlement date: | July 7
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2016 | Serial | 2% | 101.879 | 0.47%
|
| 2017 | Serial | 4% | 106.906 | 0.87%
|
| 2018 | Serial | 5% | 111.845 | 1.25%
|
| 2019 | Serial | 5% | 114.169 | 1.53%
|
| 2020 | Serial | 5% | 115.965 | 1.79%
|
| 2021 | Serial | 5% | 116.984 | 2.08%
|
| 2022 | Serial | 5% | 118.113 | 2.27%
|
| 2023 | Serial | 5% | 118.986 | 2.44%
|
| 2024 | Serial | 5% | 119.856 | 2.57%
|
| 2025 | Serial | 5% | 120.639 | 2.68%
|
| 2026 | Serial | 5% | 118.767 | 2.87%
|
| 2027 | Serial | 5% | 117.603 | 2.99%
|
| 2028 | Serial | 5% | 116.452 | 3.11%
|
| 2029 | Serial | 5% | 115.787 | 3.18%
|
| 2030 | Serial | 5% | 115.032 | 3.26%
|
| 2031 | Serial | 5% | 114.47 | 3.32%
|
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