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Prospect News home > News index > List of issuers O > Headlines for Orlando Utilities Commission > News item
Published on 1/11/2013 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

Orlando Utilities Commission, Fla., defeases four series of bonds

By Marisa Wong

Madison, Wis., Jan. 11 - Orlando Utilities Commission of Florida defeased several series of its bonds, according to notices.

The commission defeased the following series 2003A water and electric revenue refunding bonds:

• $80,000 of 4% bonds due Oct. 1, 2016;

• $200,000 of 4% bonds due Oct. 1, 2017;

• $2,975,000 of 5% bonds due Oct. 1, 2018;

• $7.74 million of 5% bonds due Oct. 1, 2019;

• $8.13 million of 5% bonds due Oct. 1, 2020;

• $13,085,000 of 5% bonds due Oct. 1, 2021; and

• $13.74 million of 5% bonds due Oct. 1, 2022.

The following series 2003B water and electric revenue refunding bonds were defeased:

• $5.2 million of 5% bonds due Oct. 1, 2013;

• $3.76 million of 5% bonds due Oct. 1, 2014;

• $3.95 million of 5% bonds due Oct. 1, 2015;

• $4.15 million of 5% bonds due Oct. 1, 2016;

• $4.36 million of 5% bonds due Oct. 1, 2017;

• $4.58 million of 5% bonds due Oct. 1, 2018;

• $4,805,000 of 5% bonds due Oct. 1, 2019;

• $5,045,000 of 4.75% bonds due Oct. 1, 2020;

• $14.11 million of 4.75% bonds due Oct. 1, 2021; and

• $14.78 million of 5% bonds due Oct. 1, 2022.

The commission also defeased $60 million of its 3.75% series 1996A water and electric revenue refunding bonds due Oct. 1, 2023.

In addition, the following series 2005B utilities system revenue bonds were defeased:

• $30 million of 4.55% bonds due Oct. 1, 2024;

• $20 million of 4.75% bonds due Oct. 1, 2024;

• $10 million of 5% bonds due Oct. 1, 2024; and

• $60 million of 5% bonds due Oct. 1, 2025.

The series 2003A and 2003B bonds will be redeemed on April 1 at par, the 1996A bonds on Oct. 1, 2013 at par and the 2005B bonds on Oct. 1, 2015 at par.

The Bank of New York Mellon Trust Co., NA is the agent.


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