Published on 6/21/2012 in the Prospect News Municipals Daily.
New Issue: San Diego Public Facilities prices $90.75 million lease revenue bonds
By Sheri Kasprzak
New York, June 21 - The San Diego Public Facilities Financing Authority came to market with $90,745,000 of series 2012 lease revenue bonds, according to a pricing sheet.
The offering included $72 million of 2012A bonds and $18,745,000 of 2012B bonds.
The 2012A bonds are due 2013 to 2032 with term bonds due in 2037 and 2042. The serial coupons range from 2% to 5.25%. The 2037 bonds have a 5% coupon priced at 104.156 and the 2042 bonds have a 4.5% coupon priced at 96.804.
The 2012B bonds are due 2013 to 2032 with coupons from 2% to 5%.
The bonds (/A+/A+) were sold through senior manager J.P. Morgan Securities LLC.
Proceeds will be used to refund the authority's series 1998A and 2002B lease revenue bonds.
| Issuer: | San Diego Public Facilities Financing Authority
|
| Issue: | Series 2012 lease revenue bonds
|
| Amount: | $90,745,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead)
|
| Ratings: | Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | June 21
|
| Settlement date: | July 3
|
|
|
| $72 million series 2012A lease revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $590,000 | 2013 | Serial | 2% | 101.249
|
| $595,000 | 2013 | Serial | 2% | 101.786
|
| $600,000 | 2014 | Serial | 2% | 101.905
|
| $605,000 | 2014 | Serial | 4% | 106.707
|
| $635,000 | 2015 | Serial | 4% | 108.75
|
| $615,000 | 2015 | Serial | 5% | 110.456
|
| $660,000 | 2016 | Serial | 4% | 110.463
|
| $645,000 | 2016 | Serial | 5% | 113.337
|
| $690,000 | 2017 | Serial | 4% | 111.091
|
| $675,000 | 2017 | Serial | 5% | 115.145
|
| $725,000 | 2018 | Serial | 4% | 110.816
|
| $705,000 | 2018 | Serial | 5% | 116.008
|
| $755,000 | 2019 | Serial | 4% | 110.068
|
| $740,000 | 2019 | Serial | 5% | 116.318
|
| $790,000 | 2020 | Serial | 4% | 109.045
|
| $770,000 | 2020 | Serial | 5% | 116.273
|
| $825,000 | 2021 | Serial | 5% | 115.92
|
| $805,000 | 2021 | Serial | 5% | 116.007
|
| $845,000 | 2022 | Serial | 5% | 115.649
|
| $1.76 million | 2023 | Serial | 5% | 113.573
|
| $1,845,000 | 2024 | Serial | 5% | 111.891
|
| $1.94 million | 2025 | Serial | 5% | 110.497
|
| $8.83 million | 2029 | Serial | 5.25% | 110.886
|
| $2.51 million | 2030 | Serial | 5% | 107.187
|
| $2,635,000 | 2031 | Serial | 5% | 106.605
|
| $2,765,000 | 2032 | Serial | 5% | 106.275
|
| $16,085,000 | 2037 | Term | 5% | 104.156
|
| $20.36 million | 2042 | Term | 4.5% | 96.804
|
|
|
| $18,745,000 series 2012B lease revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $340,000 | 2013 | Serial | 2% | 101.249
|
| $345,000 | 2013 | Serial | 2% | 101.786
|
| $340,000 | 2014 | Serial | 2% | 101.905
|
| $350,000 | 2014 | Serial | 3% | 104.456
|
| $350,000 | 2015 | Serial | 2% | 102.265
|
| $355,000 | 2015 | Serial | 4% | 108.75
|
| $365,000 | 2016 | Serial | 2% | 102.314
|
| $370,000 | 2016 | Serial | 4% | 110.463
|
| $375,000 | 2017 | Serial | 2% | 101.417
|
| $380,000 | 2017 | Serial | 3% | 106.072
|
| $385,000 | 2018 | Serial | 4% | 110.581
|
| $395,000 | 2018 | Serial | 4% | 110.816
|
| $400,000 | 2019 | Serial | 4% | 110.089
|
| $415,000 | 2019 | Serial | 4% | 110.068
|
| $430,000 | 2020 | Serial | 3% | 101.689
|
| $415,000 | 2020 | Serial | 4% | 109.288
|
| $450,000 | 2021 | Serial | 4% | 107.878
|
| $435,000 | 2021 | Serial | 5% | 116.007
|
| $455,000 | 2022 | Serial | 3% | 98.908
|
| $940,000 | 2023 | Serial | 4% | 105.294
|
| $980,000 | 2024 | Serial | 4% | 102.853
|
| $1.02 million | 2025 | Serial | 4% | 101.127
|
| $1.06 million | 2026 | Serial | 4% | 99.785
|
| $1,105,000 | 2027 | Serial | 4% | 98.785
|
| $1,155,000 | 2028 | Serial | 4% | 97.816
|
| $1.2 million | 2029 | Serial | 4.125% | 98.387
|
| $1,255,000 | 2030 | Serial | 4.125% | 97.47
|
| $1.31 million | 2031 | Serial | 4.25% | 98.09
|
| $1.37 million | 2032 | Serial | 4.25% | 97.253 |
|
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