Published on 5/20/2009 in the Prospect News Municipals Daily.
New Issue: Orlando Utilities Commission, Fla., prices upsized $311.78 million revenue bonds
By Aaron Hochman-Zimmerman
New York, May 20 - The Orlando Utilities Commission in Florida priced an upsized $311.775 million utility system revenue refunding bond (Aa1/AA/AA), according to treasury administrator Mike Hollingsed.
A one-year obligation drew a yield of 0.45%, while serial bonds due 2023, 2028 and 2029 and a term bond due 2033 drew yields from 4% to 4.79%.
Proceeds will be used to refund existing debt.
Morgan Stanley & Co. Inc. acted as underwriter for the negotiated deal.
| Issuer: | Orlando Utilities Commission, Fla.
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| Issue: | Series 2009 utility system revenue refunding bonds
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| Amount: | $311.775 million
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| Underwriter: | Morgan Stanley & Co. Inc.
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| Pricing date: | May 20
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| Ratings: | Moody's: Aa1
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| Standard & Poor's: AA
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| Fitch: AA
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| Serial, term bonds
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| Issue: | Serial, term bonds
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| Maturities: | Serial bonds 2023, 2028 to 2029; term bond, 2033
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| Yield range: | 4% to 4.79%
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|
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| One-year obligation
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| Issue: | One-year obligation
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| Maturity: | 2010
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| Yield: | 0.45%
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