Published on 5/23/2013 in the Prospect News Municipals Daily.
New Issue: Port of Seattle, Wash., prices $88.66 million of special facility SeaTac bonds
By Sheri Kasprzak
New York, May 23 - The Port of Seattle, Wash., sold $88.66 million of series 2013 special facility revenue refunding bonds for SeaTac LLC, according to a pricing sheet.
The bonds (A2/A-/) were sold through Barclays.
The bonds are due 2014 to 2033 with 3% to 5% coupons and 0.5% to 3.9% yields.
Proceeds will be used to refund the port's series 2003 SeaTac revenue bonds.
| Issuer: | Port of Seattle, Wash./SeaTac LLC
|
| Issue: | Series 2013 special facility revenue refunding bonds
|
| Amount: | $88.66 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), BofA Merrill Lynch, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Backstrom McCarley Berry & Co. LLC and Drexel Hamilton LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Pricing date: | May 23
|
| Settlement date: | June 13
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.96 million | 2014 | Serial | 3% | 102.407 | 0.50%
|
| $3.06 million | 2015 | Serial | 4% | 106.191 | 0.82%
|
| $3.18 million | 2016 | Serial | 4% | 108.533 | 1.07%
|
| $3,325,000 | 2017 | Serial | 5% | 113.967 | 1.37%
|
| $3.49 million | 2018 | Serial | 5% | 115.756 | 1.68%
|
| $3,665,000 | 2019 | Serial | 5% | 116.671 | 2.02%
|
| $3,845,000 | 2020 | Serial | 5% | 116.937 | 2.35%
|
| $4.04 million | 2021 | Serial | 5% | 116.933 | 2.63%
|
| $4.24 million | 2022 | Serial | 5% | 117.164 | 2.82%
|
| $4,455,000 | 2023 | Serial | 5% | 117.4 | 2.97%
|
| $4,675,000 | 2024 | Serial | 5% | 115.81 | 3.14%
|
| $4,865,000 | 2025 | Serial | 3.45% | 99.707 | 3.48%
|
| $5,045,000 | 2026 | Serial | 3.6% | 99.588 | 3.64%
|
| $5.22 million | 2027 | Serial | 3.75% | 99.568 | 3.79%
|
| $5.42 million | 2028 | Serial | 3.85% | 99.773 | 3.87%
|
| $5.66 million | 2029 | Serial | 5% | 110.752 | 3.70%
|
| $5.94 million | 2030 | Serial | 5% | 110.226 | 3.76%
|
| $6.24 million | 2031 | Serial | 5% | 110.051 | 3.78%
|
| $6,545,000 | 2032 | Serial | 5% | 109.529 | 3.84%
|
| $2.79 million | 2033 | Serial | 5% | 109.01 | 3.90%
|
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