New Issue: Hartford Stadium, Conn., sells $39.06 million downsized revenue bonds

By Sheri Kasprzak

New York, Feb. 18 – The Hartford Stadium Authority of Connecticut sold $39,055,000 of series 2015 lease revenue bonds, according to a pricing sheet. The deal size was cut from $59,825,000.

The bonds (/A+/) were sold through Jefferies & Co. and William Blair & Co.

The bonds are due 2017 to 2025 with term bonds due in 2036 and 2042. The serial coupons range from 3% to 5% with yields from 1.23% to 3.28%. The 2036 bonds have a 5% coupon priced at 107.874 to yield 4.03%, and the 2042 bonds have a 4% coupon priced at 97.578 to yield 4.15%.

Proceeds will be used to finance a portion of the cost of a minor league baseball stadium in downtown Hartford.

Issuer:	Hartford Stadium Authority
Issue:	Series 2015 lease revenue bonds
Amount:	$39,055,000
Type:	Negotiated
Underwriters:	Jefferies & Co. and William Blair & Co. (lead)
Rating:	Standard & Poor’s: A+
Pricing date:	Feb. 18
Settlement date:	Feb. 24
Amount	Maturity	Type	Coupon	Price	Yield
$795,000	2017	Serial	5%	107.19	1.23%
$835,000	2018	Serial	5%	109.531	1.66%
$875,000	2019	Serial	5%	111.46	1.96%
$920,000	2020	Serial	5%	112.628	2.28%
$965,000	2021	Serial	5%	113.533	2.53%
$1,015,000	2022	Serial	5%	113.577	2.83%
$1,065,000	2023	Serial	5%	113.953	3.01%
$1.12 million	2024	Serial	3%	98.761	3.16%
$1.15 million	2025	Serial	3%	97.64	3.28%
$16,855,000	2036	Term	5%	107.874	4.03%
$13.46 million	2042	Term	4%	97.578	4.15%

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