By Sheri Kasprzak
New York, April 21 - The city of Portland in Maine priced $72.31 million in series 2010 general airport revenue bonds on Wednesday, according to a pricing sheet.
The bonds (A3/BBB+/) were sold through J.P. Morgan Securities Inc. and Morgan Keegan & Co. Inc.
The bonds are due 2014 to 2030 with a term bond due 2035 and 2040. The coupons range from 4% to 5%. The 2035 bonds have a 5.25% coupon, priced at 101.891. The 2040 bonds have a 5% coupon, priced at 98.022.
Proceeds from the sale will be used to construct, expand, renovate and improve the city's Jetport terminal.
| Issuer: | Portland, Maine
|
| Issue: | Series 2010 general airport revenue bonds
|
| Amount: | $72.31 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. and Morgan Keegan & Co. Inc.
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Pricing date: | April 21
|
| Settlement date: | April 28
|
|
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 5% | 108.575
|
| 2015 | Serial | 5% | 109.435
|
| 2016 | Serial | 5% | 107.655
|
| 2017 | Serial | 5% | 106.163
|
| 2018 | Serial | 5% | 106.343
|
| 2019 | Serial | 4% | 98.197
|
| 2020 | Serial | 5% | 104.439
|
| 2021 | Serial | 5% | 103.563
|
| 2022 | Serial | 5% | 102.931
|
| 2023 | Serial | 5% | 102.304
|
| 2024 | Serial | 5% | 101.681
|
| 2025 | Serial | 5% | 101.063
|
| 2026 | Serial | 5% | 100.45
|
| 2027 | Serial | 5% | 99.768
|
| 2028 | Serial | 5% | 99.528
|
| 2029 | Serial | 5% | 99.273
|
| 2030 | Serial | 5% | 99.004
|
| 2035 | Term | 5.25% | 101.891
|
| 2040 | Term | 5% | 98.022
|
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