By Sheri Kasprzak
New York, June 16 - The Orlando-Orange County Expressway Authority on Wednesday priced $250 million of series 2010B refunding revenue bonds through Bank of America Merrill Lynch, said a pricing sheet.
The bonds (/A/A) are due 2012 to 2029 with coupons from 2.5% to 5%. The yields were not immediately available.
The co-managers were Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Raymond James & Associates Inc.; Barclays Capital Inc.; Goldman, Sachs & Co.; Morgan Stanley & Co. Inc.; RBC Capital Markets Corp.; and Wells Fargo Securities LLC.
Proceeds will be used to refund the authority's series 1998, 2008B-1 and 2008B-2 bonds.
The Orlando-based authority operates and maintains the city and county's expressway system.
| Issuer: | Orlando-Orange County Expressway Authority
|
| Issue: | Series 2010B refunding revenue bonds
|
| Amount: | $250 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead); Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Raymond James & Associates Inc.; Barclays Capital Inc.; Goldman, Sachs & Co.; Morgan Stanley & Co. Inc.; RBC Capital Markets Corp.; and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | June 16
|
|
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 4%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 2.5%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 4%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 3.5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 4%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 4.125%
|
| 2023 | Serial | 4.125%
|
| 2024 | Serial | 4.25%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 4.375%
|
| 2026 | Serial | 4.5%
|
| 2027 | Serial | 4.5%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 4.625%
|
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