Published on 9/27/2012 in the Prospect News Municipals Daily.
New Issue: Port of Oakland, Calif., sells $384.4 million refunding revenue bonds
By Sheri Kasprzak
New York, Sept. 27 - The Port of Oakland, Calif., priced $384,395,000 of series 2012 refunding revenue bonds, according to a pricing sheet.
The bonds (A2//A+) were sold through Bank of America Merrill Lynch.
The deal included $380.82 million of series 2012P AMT refunding revenue bonds and $3,575,000 of series 2012Q non-AMT refunding revenue bonds.
The 2012P bonds are due 2014, 2015 and 2021 to 2033 with 2% to 5% coupons. The 2012Q bonds are due May 1, 2014 with a 2% coupon priced at 102.451.
Proceeds will be used to refund existing debt.
Issuer: | Port of Oakland
|
Issue: | Series 2012 refunding revenue bonds
|
Amount: | $384,395,000
|
Type: | Negotiated
|
Underwriter: | Bank of America Merrill Lynch
|
Ratings: | Moody's: A2
|
| Fitch: A+
|
Pricing date: | Sept. 27
|
Settlement date: | Oct. 10
|
|
$380.82 million series 2012P AMT refunding revenue bonds
|
Amount | Maturity | Type | Coupon | Price
|
$3,235,000 | 2014 | Serial | 2% | 102.199
|
$7,215,000 | 2015 | Serial | 3% | 105.664
|
$200,000 | 2021 | Serial | 3% | 102.508
|
$18,065,000 | 2021 | Serial | 5% | 117.719
|
$225,000 | 2022 | Serial | 3.5% | 105.232
|
$29.72 million | 2022 | Serial | 5% | 117.693
|
$1,115,000 | 2023 | Serial | 4% | NRO
|
$28,455,000 | 2023 | Serial | 5% | NRO
|
$20.72 million | 2024 | Serial | 5% | NRO
|
$21.76 million | 2025 | Serial | 5% | NRO
|
$26.64 million | 2026 | Serial | 5% | NRO
|
$1.16 million | 2027 | Serial | 3.5% | NRO
|
$24,215,000 | 2027 | Serial | 5% | NRO
|
$29.22 million | 2028 | Serial | 5% | NRO
|
$30,685,000 | 2029 | Serial | 5% | NRO
|
$32.22 million | 2030 | Serial | 4.5% | NRO
|
$33,675,000 | 2031 | Serial | 5% | NRO
|
$35,355,000 | 2032 | Serial | 4.5% | NRO
|
$3.75 million | 2033 | Serial | 3.75% | 98.168
|
$33.19 million | 2033 | Serial | 5% | NRO
|
|
$3,575,000 series 2012Q non-AMT refunding revenue bonds
|
Maturity | Type | Coupon | Price
|
May 1, 2014 | Term | 2% | 102.451
|
© 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.