New Issue: Dallas/Fort Worth Airport sells $372.24 million joint bonds

By Sheri Kasprzak

New York, April 19 - The Cities of Dallas and Fort Worth priced $372.24 million of series 2013A 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 RBC Capital Markets LLC and M.R. Beal & Co.

The bonds are due 2026 to 2031 with term bonds due in 2033, 2038, 2043 and 2045. The serial bonds have a 5% coupon. The 2033 bonds have a 5% coupon priced at 108.743, and the 2038 bonds have a 5% coupon priced at 105.626. The 2043 bonds have a 5% coupon priced at 105.099, and the 2045 bonds have a 5% coupon priced at 104.706.

Proceeds will be used to finance improvements and additions to the airport.

Issuer:	Dallas and Fort Worth, Texas/Dallas/Fort Worth International Airport
Issue:	Series 2013A AMT joint revenue improvement bonds
Amount:	$372.24 million
Type:	Negotiated
Underwriters:	RBC Capital Markets LLC and M.R. Beal & Co. (lead), Raymond James/Morgan Keegan and Ramirez & Co. Inc. (co-managers)
Ratings:	Moody's: A2
	Standard & Poor's: A+
	Fitch: A
Pricing date:	April 18
Settlement date:	May 2
Amount	Maturity	Type	Coupon	Price
$5.69 million	2026	Serial	5%	113.676
$5,945,000	2027	Serial	5%	112.634
$11.22 million	2028	Serial	5%	111.859
$6.8 million	2029	Serial	5%	110.753
$12,145,000	2030	Serial	5%	110.246
$7,755,000	2031	Serial	5%	109.826
$8.15 million	2033	Term	5%	108.743
$109.29 million	2038	Term	5%	105.626
$139.2 million	2043	Term	5%	105.099
$66,045,000	2045	Term	5%	104.706

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