Published on 6/20/2012 in the Prospect News Municipals Daily.
New Issue: Osceola County, Fla., sells $74.89 million tourist development refunding bonds
By Sheri Kasprzak
New York, June 20 - Osceola County, Fla., priced $74,885,000 of series 2012 tourist development tax revenue refunding and improvement bonds, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through J.P. Morgan Securities LLC. The co-managers were Citigroup Global Markets Inc. and Gardnyr Michael Capital Inc.
The bonds are due 2013 to 2032 with a term bond due in 2034. The serial coupons range from 2% to 5%. The 2034 bonds have a 5% coupon priced at 106.729.
Proceeds will be used to finance capital improvements within the county, as well as to refund the county's series 2002A and 2009 tourist development tax revenue bonds.
| Issuer: | Osceola County, Fla.
|
| Issue: | Series 2012 tourist development tax revenue refunding and improvement bonds
|
| Amount: | $74,885,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Citigroup Global Markets Inc. and Gardnyr Michael Capital Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | June 20
|
| Settlement date: | July 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,325,000 | 2013 | Serial | 2% | 101.624
|
| $2.37 million | 2014 | Serial | 3% | 104.231
|
| $2.44 million | 2015 | Serial | 4% | 108.218
|
| $2.54 million | 2016 | Serial | 4% | 109.889
|
| $2.64 million | 2017 | Serial | 5% | 115.237
|
| $2.77 million | 2018 | Serial | 5% | 116.061
|
| $2.91 million | 2019 | Serial | 5% | 116.449
|
| $3,055,000 | 2020 | Serial | 5% | 116.195
|
| $3.21 million | 2021 | Serial | 5% | 116.181
|
| $3.37 million | 2022 | Serial | 5% | 116.361
|
| $3.54 million | 2023 | Serial | 5% | 114.856
|
| $3,715,000 | 2024 | Serial | 5% | 113.467
|
| $3.9 million | 2025 | Serial | 4% | 102.178
|
| $4,055,000 | 2026 | Serial | 4% | 101.079
|
| $4.22 million | 2027 | Serial | 4% | 100.078
|
| $4.39 million | 2028 | Serial | 4% | 99.759
|
| $4,565,000 | 2029 | Serial | 4% | 98.893
|
| $4,745,000 | 2030 | Serial | 4% | 98.22
|
| $4,935,000 | 2031 | Serial | 4% | 97.508
|
| $5,135,000 | 2032 | Serial | 4.125% | 98.047
|
| $4,055,000 | 2034 | Term | 5% | 106.729
|
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