Published on 9/17/2013 in the Prospect News Municipals Daily.
New Issue: Dallas/Fort Worth International Airport prices $251.96 million bonds
By Sheri Kasprzak
New York, Sept. 17 - The Cities of Dallas and Fort Worth, Texas, priced $251.96 million of series 2013F joint revenue refunding bonds for the Dallas/Fort Worth International Airport, according to a pricing sheet.
The bonds (A2/A+/A) were sold through Ramirez & Co. Inc. and Morgan Stanley & Co. LLC.
The bonds are due 2014 to 2031 with a term bond due in 2033. The serial coupons range from 3% to 5.25%. The 2033 bonds have a 5.25% coupon priced at 102.676.
Proceeds will be used to refund the airport's series 2003A joint revenue refunding and improvement bonds.
| Issuer: | Dallas and Fort Worth, Texas/Dallas/Fort Worth International Airport
|
| Issue: | Series 2013F joint revenue refunding bonds
|
| Amount: | $251.96 million
|
| Type: | Negotiated
|
| Underwriters: | Ramirez & Co. Inc. and Morgan Stanley & Co. LLC (lead), RBC Capital Markets LLC and Stifel, Nicolaus & Co. LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | Sept. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.85 million | 2014 | Serial | 3% | NRO
|
| $3,045,000 | 2015 | Serial | 3% | NRO
|
| $165,000 | 2016 | Serial | 3% | 105.638
|
| $1,445,000 | 2017 | Serial | 4% | 109.682
|
| $7.88 million | 2018 | Serial | 5% | 113.939
|
| $16,095,000 | 2019 | Serial | 5% | 114.048
|
| $1.5 million | 2020 | Serial | 4% | 107.403
|
| $9,825,000 | 2020 | Serial | 5% | 113.788
|
| $16,345,000 | 2021 | Serial | 5% | 112.895
|
| $16.7 million | 2022 | Serial | 5% | 111.925
|
| $21.9 million | 2023 | Serial | 5% | 111.131
|
| $24.44 million | 2024 | Serial | 5% | 109.015
|
| $30.52 million | 2025 | Serial | 5.125% | 108.485
|
| $9,155,000 | 2028 | Serial | 5.25% | 106.36
|
| $9.27 million | 2029 | Serial | 5.25% | 105.362
|
| $11,975,000 | 2030 | Serial | 5.25% | 104.294
|
| $10.78 million | 2031 | Serial | 5.25% | 103.643
|
| $58.07 million | 2033 | Term | 5.25% | 102.676
|
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