By Sheri Kasprzak
New York, Sept. 23 - Lee County in Florida sold $81.158 million of series 2011 tourist development tax revenue bonds, said a pricing sheet.
The bonds (Aa3//AA-) were sold through Bank of America Merrill Lynch with Citigroup Global Markets Inc. and Morgan Keegan & Co. Inc. as the co-managers.
The offering included $42.48 million of series 2011A Build America Bonds, $37.403 million of series 2011B recovery zone economic development Build America Bonds and $1.275 million of series 2011C tax-exempt bonds.
The 2011A bonds are due 2017 to 2025, with a term bond due 2033. The coupons range from 4.097% to 5.603%, all priced at par. The 2033 bonds have a 6.089% coupon priced at par.
The 2011B bonds are due Oct. 1, 2040 and have a 6.289% coupon priced at par.
The 2011C bonds are due 2011 to 2016 with 2% to 3% coupons.
Proceeds will be used to acquire and construct a major league baseball spring training facility for the Boston Red Sox on 126 acres owned by the county.
| Issuer: | Lee County, Fla.
|
| Issue: | Series 2011 tourist development tax revenue bonds
|
| Amount: | $81.158 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Citigroup Global Markets Inc. and Morgan Keegan & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | Sept. 23
|
| Settlement date: | Oct. 7
|
|
|
| Series 2011A
|
| Maturity | Type | Coupon | Price
|
| 2017 | Serial | 4.097% | 100
|
| 2018 | Serial | 4.453% | 100
|
| 2019 | Serial | 4.653% | 100
|
| 2020 | Serial | 4.753% | 100
|
| 2021 | Serial | 4.953% | 100
|
| 2022 | Serial | 5.153% | 100
|
| 2023 | Serial | 5.303% | 100
|
| 2024 | Serial | 5.453% | 100
|
| 2025 | Serial | 5.603% | 100
|
| 2033 | Term | 6.089% | 100
|
|
|
| Series 2011B
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2040 | Term | 6.289% | 100
|
|
|
| Series 2011C
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 101.225
|
| 2012 | Serial | 2.5% | 102.942
|
| 2013 | Serial | 3% | 105.234
|
| 2014 | Serial | 3% | 105.782
|
| 2015 | Serial | 3% | 105.111
|
| 2016 | Serial | 3% | 104.121
|
© 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.
