Published on 10/27/2011 in the Prospect News Municipals Daily.
New Issue: Port of Portland, Ore., sells $75.67 million revenue bonds for airport
By Sheri Kasprzak
New York, Oct. 27 - The Port of Portland, Ore., sold $75.67 million of series 2011A passenger facility charge revenue bonds Thursday for Portland International Airport, according to a pricing sheet.
The bonds (/A/) were sold through Bank of America Merrill Lynch and Goldman Sachs & Co.
The bonds are due 2012 to 2031 with 2.5% to 5.5% coupons.
Proceeds will be used to finance capital improvements to the airport, as well as to repay draws on a non-revolving credit facility that were made to fund the improvements.
| Issuer: | Port of Portland, Ore./Portland International Airport
|
| Issue: | Series 2011A passenger facility charge revenue bonds
|
| Amount: | $75.67 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Goldman Sachs & Co.
|
| Rating: | Standard & Poor's: A
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 10
|
|
|
| $75.67 million series 2011A PFC revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $755,000 | 2012 | Serial | 2.5% | 101.279
|
| $1.425 million | 2013 | Serial | 3% | 103.497
|
| $1.475 million | 2014 | Serial | 3% | 104.719
|
| $1.505 million | 2015 | Serial | 4% | 108.455
|
| $1.56 million | 2016 | Serial | 5% | 113.137
|
| $1.65 million | 2017 | Serial | 4% | 108.668
|
| $1.71 million | 2018 | Serial | 5% | 114.287
|
| $150,000 | 2019 | Serial | 3% | 100.337
|
| $135,000 | 2020 | Serial | 3% | 98.423
|
| $125,000 | 2021 | Serial | 3.25% | 99.342
|
| $105,000 | 2022 | Serial | 3.25% | 98.228
|
| $80,000 | 2023 | Serial | 3.5% | 99.24
|
| $60,000 | 2024 | Serial | 3.5% | 97.892
|
| $7.955 million | 2025 | Serial | 5% | 109.353
|
| $3.625 million | 2026 | Serial | 5% | 108.43
|
| $4.725 million | 2026 | Serial | 5.5% | 112.408
|
| $8.795 million | 2027 | Serial | 5.5% | 111.558
|
| $9.275 million | 2028 | Serial | 4% | 98.324
|
| $9.645 million | 2029 | Serial | 5.5% | 109.881
|
| $10.18 million | 2030 | Serial | 5.5% | 109.301
|
| $1.5 million | 2031 | Serial | 5% | 104.828
|
| $9.235 million | 2031 | Serial | 5.5% | 108.725
|
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