By Sheri Kasprzak
New York, Dec. 5 - The Washington Economic Development Finance Authority sold $54.375 million of series 2011 taxable economic development revenue bonds, according to a pricing sheet.
The bonds (/BBB+/) were sold through Morgan Keegan & Co. Inc.
The bonds are due 2014 to 2018 with a term bond due in 2021. The serial coupons range from 2.9% priced at par to 4.5% priced at 98.553. The 2021 bonds have a 5.25% coupon priced at 96.281.
Proceeds will be used to make a loan to CSC of Tacoma LLC to reimburse the Geo Group Inc. for the expansion of the Northwest Detention Facility in Tacoma, Wash.
| Issuer: | Washington Economic Development Finance Authority
|
| Issue: | Series 2011 taxable economic development revenue bonds
|
| Amount: | $54.375 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Keegan & Co. Inc.
|
| Rating: | Standard & Poor's: BBB+
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.975 million | 2014 | Serial | 2.9% | 100
|
| $6.26 million | 2015 | Serial | 3.2% | 98.935
|
| $6.46 million | 2016 | Serial | 3.7% | 98.694
|
| $6.7 million | 2017 | Serial | 4% | 98.214
|
| $6.97 million | 2018 | Serial | 4.5% | 98.553
|
| $23.01 million | 2021 | Term | 5.25% | 96.281
|
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