By Sheri Kasprzak
New York, Sept. 23 - Osceola County in Florida sold $131.26 million in series 2009 capital improvement revenue bonds on Wednesday, according to a term sheet.
The sale included $38.645 million in series 2009A tax-exempt bonds, $85.845 million in series 2009B Build America Bonds and $6.77 million series 2009C Build America Bonds.
The series 2009A bonds are due 2010 to 2023 with coupons from 2% to 5%. The 2009B bonds are due 2029 and 2039. The 2029 bonds have a 6.721% coupon, priced at par, and the 2039 bonds have a 6.946% coupon, also priced at par. The 2009C bonds are due 2030 with a 6.796% coupon, priced at par.
The bonds (A2/A+/A+) were sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager.
Proceeds will be used to fund a variety of capital improvements throughout the county.
The county seat of Osceola County is Kissimmee, Fla.
| Issuer: | Osceola County, Fla.
|
| Issue: | Series 2009 capital improvement revenue bonds
|
| Amount: | $131.26 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc. (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Sept. 23
|
| Settlement date: | Oct. 2
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | 100.691
|
| 2011 | Serial | 3% | 102.661
|
| 2011 | Serial | 5% | 106.575
|
| 2012 | Serial | 3% | 102.807
|
| 2012 | Serial | 5% | 108.594
|
| 2013 | Serial | 3% | 102.197
|
| 2013 | Serial | 5% | 109.773
|
| 2014 | Serial | 3% | 101.020
|
| 2014 | Serial | 5% | 110.291
|
| 2015 | Serial | 3% | 99.565
|
| 2015 | Serial | 5% | 110.441
|
| 2016 | Serial | 3.25% | 99.566
|
| 2016 | Serial | 3% | 98.016
|
| 2017 | Serial | 3.5% | 99.586
|
| 2017 | Serial | 4% | 103.039
|
| 2018 | Serial | 4% | 101.894
|
| 2018 | Serial | 3.5% | 98.106
|
| 2019 | Serial | 4% | 100.821
|
| 2020 | Serial | 4% | 99.824
|
| 2021 | Serial | 4% | 98.687
|
| 2022 | Serial | 5% | NRO
|
| 2022 | Serial | 4% | 97.718
|
| 2023 | Serial | 5% | NRO
|
| 2023 | Serial | 4.125% | 97.968
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2029 | Term | 6.721% | 100.000
|
| 2039 | Term | 6.946% | 100.000
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Price
|
| 2030 | Term | 6.796% | 100.000
|
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