By Sheri Kasprzak
New York, Dec. 17 - Manatee County, Fla., sold $78.02 million of series 2010 public utilities revenue bonds on Friday, according to a term sheet.
The deal included $17.81 million of series 2010A Build America Bonds, $45.3 million of series 2010B recovery zone economic development bonds, $6.72 million of series 2010C refunding and improvement bonds and $8.19 million of series 2010D taxable improvement bonds.
The 2010A bonds are due 2020 to 2025 with 5.951% to 6.801% coupons, all priced at par. The 2010B bonds are due 2030 and 2035 with 7.178% and 7.378% coupons, respectively, both priced at par. The 2010C bonds are due 2017 to 2019 with coupons from 3.5% to 5%. The 2010D bonds are due 2014 to 2017 with 3.394% to 5.048% coupons.
Citigroup Global Markets Inc. was the senior manager, and Morgan Keegan & Co. Inc. and Wells Fargo Securities LLC were the co-managers.
Proceeds will be used finance additions, replacements and upgrades to the county's water and wastewater system, as well as to refund existing debt.
| Issuer: | Manatee County, Fla.
|
| Issue: | Series 2010public utilities revenue bonds
|
| Amount: | $78.02 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Morgan Keegan & Co. Inc. and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Dec. 17
|
| Settlement date: | Dec. 29
|
|
|
| $17.81 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.88 million | 2020 | Serial | 5.951% | 100
|
| $2.88 million | 2021 | Serial | 6.151% | 100
|
| $3.115 million | 2022 | Serial | 6.351% | 100
|
| $3.38 million | 2024 | Serial | 6.701% | 100
|
| $2.315 million | 2025 | Serial | 6.801% | 100
|
|
|
| $45.3 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $21.105 million | 2030 | Term | 7.178% | 100
|
| $24.195 million | 2035 | Term | 7.378% | 100
|
|
|
| $6.72 million series 2010C
|
| Amount | Maturity | Type | Coupon | Price
|
| $310,000 | 2017 | Serial | 4% | 104.759
|
| $1 million | 2017 | Serial | 5% | 110.788
|
| $1.075 million | 2018 | Serial | 3.5% | 109.749
|
| $1.575 million | 2018 | Serial | 5% | 99.659
|
| $1.38 million | 2019 | Serial | 4% | 108.473
|
| $1.38 million | 2019 | Serial | 5% | 101.101
|
|
|
| $8.19 million series 2010D
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.245 million | 2014 | Serial | 3.394% | 100
|
| $2.32 million | 2015 | Serial | 3.894% | 100
|
| $2.41 million | 2016 | Serial | 4.798% | 100
|
| $1.215 million | 2017 | Serial | 5.048% | 100
|
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