Published on 10/17/2013 in the Prospect News Municipals Daily.
New Issue: Dallas-Fort Worth International sells $109.06 million of revenue bonds
By Sheri Kasprzak
New York, Oct. 17 - The Cities of Dallas and Fort Worth, Texas, priced $109.06 million of series 2013G non-AMT joint revenue improvement bonds for the Dallas-Fort Worth International Airport, according to a pricing sheet.
The bonds (A2/A+/A) were sold through Stifel, Nicolaus & Co. and Barclays.
The bonds are due 2018 to 2030 and 2032 to 2033 with term bonds due in 2037 and 2043. The serial coupons range from 4.125% to 5.25% with 1.83% to 4.86% yields. The 2037 bonds have a 5.25% coupon priced at 101.24 to yield 5.09%. The 2043 bonds have a 5% coupon priced at 97.274 to yield 5.18%.
Proceeds will be used to fund improvements and additions to the airport.
| Issuer: | Dallas and Fort Worth, Texas/Dallas-Fort Worth International Airport
|
| Issue: | Series 2013G non-AMT joint revenue improvement bonds
|
| Amount: | $109.06 million
|
| Type: | Negotiated
|
| Underwriters: | Stifel, Nicolaus & Co. and Barclays (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | Oct. 16
|
| Settlement date: | Nov. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4.49 million | 2018 | Serial | 5% | 115.048 | 1.83%
|
| $4,715,000 | 2019 | Serial | 5% | 115.025 | 2.30%
|
| $4.95 million | 2020 | Serial | 5% | 114.696 | 2.68%
|
| $5.2 million | 2021 | Serial | 5% | 113.961 | 3.02%
|
| $5.46 million | 2022 | Serial | 5% | 113.379 | 3.27%
|
| $5.74 million | 2023 | Serial | 5% | 112.642 | 3.49%
|
| $2.92 million | 2024 | Serial | 5.125% | 111.455 | 3.74%
|
| $3,175,000 | 2025 | Serial | 5.25% | 110.992 | 3.91%
|
| $3,545,000 | 2026 | Serial | 5.25% | 109.519 | 4.08%
|
| $3,325,000 | 2027 | Serial | 4.125% | 98.071 | 4.31%
|
| $3,875,000 | 2028 | Serial | 5.25% | 106.893 | 4.39%
|
| $4,065,000 | 2029 | Serial | 5.25% | 105.815 | 4.52%
|
| $1.5 million | 2030 | Serial | 5.25% | 104.831 | 4.64%
|
| $2.35 million | 2032 | Serial | 4.625% | 97.227 | 4.85%
|
| $3.5 million | 2033 | Serial | 5.25% | 103.056 | 4.86%
|
| $7,925,000 | 2037 | Term | 5.25% | 101.24 | 5.09%
|
| $42,325,000 | 2043 | Term | 5% | 97.274 | 5.18%
|
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