Orlando, Fla., organizes $87.98 million of capital improvement bonds

By Sheri Kasprzak

New York, Oct. 10 – The City of Orlando, Fla., is on tap to price $87.98 million of series 2014 capital improvement special revenue bonds, according to a preliminary official statement.

The offering includes $64,235,000 of series 2014B revenue bonds, $10.77 million of series 2014C refunding revenue bonds and $12,975,000 of series 2014D refunding revenue bonds.

The bonds (Aa2/AA/AA+) will be sold on a negotiated basis with Jefferies & Co. as the senior manager. The co-managers are Blaylock Beal Van LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.

The 2014B bonds are due 2017 to 2036 with term bonds due in 2041 and 2046. The 2014C bonds are due 2015 to 2024. The 2014D bonds are due 2015 to 2025.

Proceeds will be used to finance capital upgrades to the city’s municipal facilities, including the construction of a new police headquarters building and lighting and safety upgrades, as well as to refund the city’s series 2005A and 2006A bonds.

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