New Issue: Delaware River Port Authority, N.J., sells $476.59 million revenue debt

By Sheri Kasprzak

New York, Dec. 5 - The Delaware River Port Authority of New Jersey and Pennsylvania priced $476.59 million of series 2013 revenue bonds, according to a pricing sheet.

The bonds (Baa3) were sold through Citigroup Global Markets Inc.

The bonds are due 2027 to 2034 with term bonds due in 2037 and 2040. The serial coupons range from 4.125% to 5%. The 2037 bonds have a 4.75% coupon priced at 99.03 and a 5% coupon priced at 101.655 and the 2040 bonds have a 5% coupon priced at 101.02.

Proceeds will be used to finance capital improvements to port facilities.

Issuer:	Delaware River Port Authority, N.J.
Issue:	Series 2013 revenue bonds
Amount:	$476.59 million
Type:	Negotiated
Underwriter:	Citigroup Global Markets Inc.
Rating:	Moody's: Baa3
Pricing date:	Dec. 5
Settlement date:	Dec. 18
Amount	Maturity	Type	Coupon	Price
$845,000	2027	Serial	4.125%	100
$23.51 million	2027	Serial	5%	107.683
$25.55 million	2028	Serial	5%	106.663
$26,825,000	2029	Serial	5%	105.655
$170,000	2030	Serial	4.5%	100
$27,995,000	2030	Serial	5%	104.658
$29.56 million	2031	Serial	5%	103.918
$31.04 million	2032	Serial	4.5%	97.821
$32.59 million	2033	Serial	5%	103.022
$810,000	2034	Serial	4.625%	99.159
$33.41 million	2034	Serial	5%	102.618
$3 million	2037	Term	4.75%	99.03
$110,225,000	2037	Term	5%	101.655
$131.06 million 2040	Term	5%	101.02

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