Published on 12/14/2012 in the Prospect News Municipals Daily.
New Issue: Orlando-Orange County Expressway, Fla., sells $174.32 million of refunding bonds
By Sheri Kasprzak
New York, Dec. 14 - The Orlando-Orange County Expressway Authority of Florida priced $174,315,000 of series 2013B refunding revenue bonds, according to a pricing sheet.
The bonds were sold through Bank of America Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
The bonds are due 2014 to 2025 with 3% to 5% coupons.
Proceeds will be used to refund the authority's series 2003C-2, 2003C-4, 2003D, 2008B-2 and 2008B-4 revenue bonds.
| Issuer: | Orlando-Orange County Expressway Authority
|
| Issue: | Series 2013B refunding revenue bonds
|
| Amount: | $174,315,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead), Loop Capital Markets LLC, Raymond James/Morgan Keegan, Barclays, Goldman, Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Dec. 13
|
| Settlement date: | Jan. 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $540,000 | 2014 | Serial | 3% | 103.571
|
| $675,000 | 2015 | Serial | 3% | 105.479
|
| $740,000 | 2016 | Serial | 4% | 110.248
|
| $18.04 million | 2017 | Serial | 5% | 116.588
|
| $18.87 million | 2018 | Serial | 5% | 118.925
|
| $19,725,000 | 2019 | Serial | 5% | 120.49
|
| $20.63 million | 2020 | Serial | 5% | 121.488
|
| $2,475,000 | 2021 | Serial | 3% | 106.329
|
| $14,135,000 | 2022 | Serial | 5% | 122.439
|
| $7.5 million | 2022 | Serial | 5% | 122.917
|
| $12,625,000 | 2023 | Serial | 5% | 123.372
|
| $10 million | 2023 | Serial | 5% | 123.894
|
| $9 million | 2024 | Serial | 5% | 122.645
|
| $14.65 million | 2024 | Serial | 5% | 123.164
|
| $7 million | 2025 | Serial | 5% | 121.924
|
| $17.71 million | 2025 | Serial | 5% | 122.439
|
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