By Sheri Kasprzak
New York, Nov. 19 - The Solid Waste Authority of Palm Beach County in Florida priced $131.565 million in series 2008B improvement revenue bonds, according to an official statement released Wednesday.
The bonds (Aa3/AA/) were sold through lead manager Citigroup Global Markets with Jackson Securities, Janney Montgomery Scott, Loop Capital Markets, Merrill Lynch & Co., Raymond James & Associates and Wachovia Bank as co-managers.
The offering initially included $83.31 million in series 2008A bonds, but those bonds have not yet priced.
The bonds are due from 2024 to 2025 with a term bond due 2028. The serials have coupons from 5.5% to 5.625% and yields from 5.74% to 5.8%. The 2028 bonds have a 5.5% coupon to yield 5.9%.
Proceeds will be used for the refurbishment of a waste-to-energy facility, the design of a new resource recovery facility, the construction of a new transfer station, the acquisition of a landfill site and for a deposit to a debt service reserve fund.
| Issuer: | Solid Waste Authority of Palm Beach County, Fla.
|
| Issue: | Series 2008B improvement revenue bonds
|
| Amount: | $131.565 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets (lead); Jackson Securities, Janney Montgomery Scott, Loop Capital Markets, Merrill Lynch & Co., Raymond James & Associates and Wachovia Bank
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 25
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2024 | Serial | 5.5% | 5.74%
|
| 2024 | Serial | 5.625% | 5.74%
|
| 2025 | Serial | 5.5% | 5.80%
|
| 2028 | Term | 5.5% | 5.90%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
