Published on 2/27/2013 in the Prospect News Municipals Daily.
New Issue: Ventura County Public Financing, Calif., sells $302.06 million lease revenue bonds
By Sheri Kasprzak
New York, Feb. 27 - The Ventura County Public Financing Authority of California sold $302.06 million of series 2013A lease revenue bonds, according to a pricing sheet.
The bonds (Aa3/AA/AA) were sold through Citigroup Global Markets Inc.
The bonds are due 2013 to 2033 with term bonds due in 2038 and 2043. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 111.929. The 2043 bonds have a 4% coupon priced at 99.645 and a 5% coupon priced at 110.721.
Proceeds will be used to finance the construction of a replacement hospital for the Ventura County Medical Center.
| Issuer: | Ventura County Public Financing Authority
|
| Issue: | Series 2013A lease revenue bonds
|
| Amount: | $302.06 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Barclays, De La Rosa & Co. Inc. and Fidelity Capital Markets Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.64 million | 2013 | Serial | 2% | 101.175
|
| $4.75 million | 2014 | Serial | 3% | 104.355
|
| $4,895,000 | 2015 | Serial | 3% | 106.381
|
| $5,045,000 | 2016 | Serial | 3% | 107.785
|
| $5,225,000 | 2017 | Serial | 4% | 113.498
|
| $5,435,000 | 2018 | Serial | 4% | 114.543
|
| $5.69 million | 2019 | Serial | 5% | 121.154
|
| $5.98 million | 2020 | Serial | 5% | 121.654
|
| $6,285,000 | 2021 | Serial | 5% | 121.854
|
| $6.61 million | 2022 | Serial | 5% | 121.697
|
| $6.95 million | 2023 | Serial | 5% | 120.363
|
| $7,305,000 | 2024 | Serial | 5% | 119.891
|
| $7.68 million | 2025 | Serial | 5% | 118.766
|
| $8,075,000 | 2026 | Serial | 5% | 118.116
|
| $8,485,000 | 2027 | Serial | 5% | 117.286
|
| $5.16 million | 2028 | Serial | 4.5% | 111.155
|
| $3.75 million | 2028 | Serial | 5% | 116.191
|
| $9,355,000 | 2029 | Serial | 5% | 115.647
|
| $9.83 million | 2030 | Serial | 5% | 115.197
|
| $5.31 million | 2031 | Serial | 4% | 104.061
|
| $5 million | 2031 | Serial | 5% | 114.838
|
| $5.78 million | 2032 | Serial | 4% | 103.728
|
| $5 million | 2032 | Serial | 5% | 114.481
|
| $5,725,000 | 2033 | Serial | 4% | 103.397
|
| $6 million | 2033 | Serial | 5% | 103.728
|
| $65.53 million | 2038 | Term | 5% | 111.929
|
| $43,035,000 | 2043 | Term | 4% | 99.645
|
| $39,985,000 | 2043 | Term | 5% | 110.721
|
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