Published on 12/14/2012 in the Prospect News Municipals Daily.
New Issue: Delaware River Port Authority sells $153.03 million of refunding bonds
By Sheri Kasprzak
New York, Dec. 14 - The Delaware River Port Authority, a joint authority of New Jersey and Pennsylvania, priced $153.03 million of series 2012 port district project refunding bonds, according to a pricing sheet.
The bonds (Baa3) were sold through RBC Capital Markets LLC.
The bonds are due 2014 to 2027 with 3% to 5% coupons.
Proceeds will be used to refund existing debt.
| Issuer: | Delaware River Port Authority
|
| Issue: | Series 2012 port district project refunding bonds
|
| Amount: | $153.03 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Moody's: Baa3
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 20
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.79 million | 2014 | Serial | 3% | 102.097
|
| $5.8 million | 2015 | Serial | 4% | 105.393
|
| $6.03 million | 2016 | Serial | 5% | 110.237
|
| $6,335,000 | 2017 | Serial | 5% | 112.511
|
| $225,000 | 2018 | Serial | 2% | 100.047
|
| $6,425,000 | 2018 | Serial | 5% | 114.34
|
| $6,975,000 | 2019 | Serial | 5% | 115.976
|
| $7.32 million | 2020 | Serial | 5% | 116.727
|
| $12.35 million | 2021 | Serial | 5% | 117.53
|
| $14,085,000 | 2022 | Serial | 5% | 117.011
|
| $240,000 | 2023 | Serial | 3% | 100.085
|
| $14,545,000 | 2023 | Serial | 5% | 117.307
|
| $15.52 million | 2024 | Serial | 5% | 115.99
|
| $16.3 million | 2025 | Serial | 5% | 115.617
|
| $17,115,000 | 2026 | Serial | 5% | 115.246
|
| $17,975,000 | 2027 | Serial | 5% | 115.061
|
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