Published on 9/3/2014 in the Prospect News Municipals Daily.
New Issue: Palm Beach County, Fla., brings $72.47 million public improvement bonds
By Sheri Kasprzak
New York, Sept. 3 – Palm Beach County, Fla., sold $72,465,000 of series 2014A public improvement revenue refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold competitively, but the issuer did not immediately return calls for the winning bidder Wednesday.
The bonds are due 2015 to 2027 with 3% to 5% coupons.
Proceeds will be used to refund the county’s series 2006 and 2007A-C public improvement bonds.
| Issuer: | Palm Beach County, Fla.
|
| Issue: | Series 2014A public improvement revenue refunding bonds
|
| Amount: | $72,465,000
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Fitch: AA+
|
| Pricing date: | Sept. 3
|
| Settlement date: | Oct. 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $265,000 | 2015 | Serial | 5% | 102.247
|
| $340,000 | 2016 | Serial | 5% | 109.643
|
| $355,000 | 2017 | Serial | 5% | 113.355
|
| $5,755,000 | 2018 | Serial | 5% | 116.182
|
| $6,055,000 | 2019 | Serial | 5% | 118.466
|
| $6,365,000 | 2020 | Serial | 5% | 120.017
|
| $6.69 million | 2021 | Serial | 5% | 121.042
|
| $7,025,000 | 2022 | Serial | 5% | 121.787
|
| $7.39 million | 2023 | Serial | 5% | 122.845
|
| $7,755,000 | 2024 | Serial | 5% | 123.767
|
| $8.15 million | 2025 | Serial | 5% | 122.558
|
| $8.57 million | 2026 | Serial | 4% | 111.219
|
| $7.75 million | 2027 | Serial | 3% | 99.462
|
|
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