Published on 10/17/2014 in the Prospect News Municipals Daily.
New Issue: Lee County, Fla., brings $106.57 million transportation refunding bonds
By Sheri Kasprzak
New York, Oct. 17 – Lee County, Fla., sold $106.57 million of series 2014 transportation facilities refunding revenue bonds, said a pricing sheet.
The bonds (A3/A-/) were sold through BofA Merrill Lynch.
The bonds are due 2015 to 2035 with 2% to 5% coupons and yields from 0.25% to 3.17%.
Proceeds will be used to refund the county’s series 2004A and 2005A-B transportation facilities revenue bonds.
Issuer: | Lee County, Fla.
|
Issue: | Series 2014 transportation facilities refunding revenue bonds
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Amount: | $106.57 million
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Type: | Negotiated
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Underwriters: | BofA Merrill Lynch (lead), RBC Capital Markets LLC and Loop Capital Markets LLC (co-managers)
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Ratings: | Moody’s: A3
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| Standard & Poor’s: A-
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Pricing date: | Oct. 17
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Settlement date: | Oct. 29
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$2,835,000 | 2015 | Serial | 2% | 101.61 | 0.25%
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$3,985,000 | 2016 | Serial | 3% | 104.815 | 0.48%
|
$4,105,000 | 2017 | Serial | 5% | 112.199 | 0.77%
|
$5,295,000 | 2018 | Serial | 5% | 114.971 | 1.09%
|
$5.56 million | 2019 | Serial | 5% | 117.22 | 1.37%
|
$5,835,000 | 2020 | Serial | 5% | 118.825 | 1.65%
|
$6.12 million | 2021 | Serial | 5% | 119.873 | 1.92%
|
$6,435,000 | 2022 | Serial | 5% | 120.656 | 2.15%
|
$6.88 million | 2023 | Serial | 5% | 121.665 | 2.30%
|
$7,215,000 | 2024 | Serial | 5% | 122.535 | 2.43%
|
$7.58 million | 2025 | Serial | 5% | 121.356 | 2.55%
|
$7,955,000 | 2026 | Serial | 5% | 120.48 | 2.64%
|
$8.36 million | 2027 | Serial | 5% | 119.804 | 2.71%
|
$3,055,000 | 2028 | Serial | 5% | 119.324 | 2.76%
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$3,205,000 | 2029 | Serial | 3% | 98.458 | 3.13%
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$3.3 million | 2030 | Serial | 5% | 118.276 | 2.87%
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$3,465,000 | 2031 | Serial | 3% | 96.89 | 3.24%
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$3.57 million | 2032 | Serial | 5% | 116.957 | 3.01%
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$3.75 million | 2033 | Serial | 5% | 116.398 | 3.07%
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$3,935,000 | 2034 | Serial | 5% | 115.934 | 3.12%
|
$4.13 million | 2035 | Serial | 5% | 115.472 | 3.17%
|
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