Published on 2/27/2015 in the Prospect News Municipals Daily.
New Issue: Osceola County, Fla., prices $58.66 million of sales tax revenue bonds
By Sheri Kasprzak
New York, Feb. 27 – Osceola County, Fla., priced $58.66 million of series 2015A sales tax revenue bonds, according to a pricing sheet.
The bonds (A1/AA/AA-) were sold through senior manager Raymond James/Morgan Keegan.
The bonds are due 2018 to 2033 with term bonds due in 2035, 2040 and 2044. The serial coupons range from 3.375% to 5% with 1.09% to 3.48% yields. The 2035 bonds have a 5% coupon priced at 114.579 to yield 3.28% and the 2040 bonds have a 5% coupon priced at 112.129 to yield 3.55%. The 2044 bonds have a 5% coupon priced at 111.772 to yield 3.59%.
Proceeds will be used to finance the construction, acquisition, improvement and equipment of a center for research and development.
| Issuer: | Osceola County, Fla.
|
| Issue: | Series 2015A sales tax revenue bonds
|
| Amount: | $58.66 million
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| Type: | Negotiated
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| Underwriters: | Raymond James/Morgan Keegan (lead), Jefferies & Co. and Ramirez & Co. Inc. (co-managers)
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| Ratings: | Moody’s: A1
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| Standard & Poor’s: AA
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| Fitch: AA-
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| Pricing date: | Feb. 20
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| Settlement date: | March 26
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $450,000 | 2018 | Serial | 5% | 113.443 | 1.09%
|
| $485,000 | 2019 | Serial | 5% | 115.979 | 1.34%
|
| $530,000 | 2020 | Serial | 5% | 117.817 | 1.61%
|
| $570,000 | 2021 | Serial | 5% | 119.789 | 1.77%
|
| $595,000 | 2022 | Serial | 4% | 113.515 | 2.05%
|
| $635,000 | 2023 | Serial | 4% | 113.656 | 2.23%
|
| $665,000 | 2024 | Serial | 4% | 113.173 | 2.44%
|
| $1,655,000 | 2025 | Serial | 5% | 121.039 | 2.60%
|
| $1,735,000 | 2026 | Serial | 5% | 119.674 | 2.74%
|
| $1,825,000 | 2027 | Serial | 5% | 118.711 | 2.84%
|
| $1.92 million | 2028 | Serial | 5% | 117.377 | 2.98%
|
| $2.02 million | 2029 | Serial | 5% | 116.999 | 3.02%
|
| $2.12 million | 2030 | Serial | 5% | 116.529 | 3.07%
|
| $2.23 million | 2031 | Serial | 5% | 115.968 | 3.13%
|
| $2,325,000 | 2032 | Serial | 3.375% | 98.631 | 3.48%
|
| $2,425,000 | 2033 | Serial | 5% | 115.04 | 3.23%
|
| $5.23 million | 2035 | Term | 5% | 114.579 | 3.28%
|
| $15,615,000 | 2040 | Term | 5% | 112.129 | 3.55%
|
| $15.63 million | 2044 | Term | 5% | 111.772 | 3.59%
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