By Sheri Kasprzak
New York, Feb. 10 - The Port of Seattle, Wash., priced $104.215 million of series 2011 limited tax general obligation and general obligation refunding bonds on Thursday, said a pricing sheet.
The bonds (Aa1/AAA/AAA) were sold through Barclays Capital Inc. with Siebert Brandford Shank & Co. LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. Inc. as the co-managers.
The deal included $74 million of series 2011 AMT G.O. refunding bonds and $30.215 million of series 2011 taxable G.O. bonds.
The AMT refunding bonds are due 2011 to 2025 with 3% to 5.75% coupons. The 2011 G.O. bonds are due 2014 to 2015 and have 2.254% and 3.068% coupons respectively, both priced at par.
Proceeds will be used to reimburse the port for the construction of the Rail Corridor, as well as to refund its series 2000B bonds.
| Issuer: | Port of Seattle
|
| Issue: | Series 2011 limited tax general obligation and G.O. refunding bonds
|
| Amount: | $104.215 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. (lead), Siebert Brandford Shank & Co. LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 23
|
|
|
| $74 million series 2011 AMT G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.325 million | 2011 | Serial | 3% | 101.931
|
| $3.64 million | 2012 | Serial | 4% | 104.713
|
| $3.785 million | 2013 | Serial | 4% | 105.753
|
| $3.935 million | 2014 | Serial | 5% | 109.319
|
| $4.13 million | 2015 | Serial | 5% | 109.338
|
| $4.335 million | 2016 | Serial | 5% | 109.413
|
| $4.555 million | 2017 | Serial | 5.25% | 109.643
|
| $4.795 million | 2018 | Serial | 5.25% | 109.11
|
| $5.045 million | 2019 | Serial | 5.25% | 108.089
|
| $5.305 million | 2020 | Serial | 5.25% | 106.931
|
| $5.59 million | 2021 | Serial | 5.25% | 105.854
|
| $5.88 million | 2022 | Serial | 5.5% | 106.367
|
| $6.21 million | 2023 | Serial | 5.5% | 105.119
|
| $6.55 million | 2024 | Serial | 5.75% | 106.041
|
| $6.92 million | 2025 | Serial | 5.75% | 105.056
|
|
|
| $30.215 million taxable G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $14.94 million | 2014 | Serial | 2.254% | 100
|
| $15.275 million | 2015 | Serial | 3.068% | 100
|
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