Published on 12/15/2015 in the Prospect News Municipals Daily.
New Issue: Virgin Islands Public Finance hits market with $89.88 million Garvees
By Sheri Kasprzak
New York, Dec. 15 – The Virgin Islands Public Finance Authority sold $89.88 million of series 2015 federal highway grant anticipation revenue loan notes, according to a pricing sheet.
The notes (/A/) were sold through senior managers Jefferies & Co. and Bostonia Global Securities LLC.
The notes are due 2016 to 2024 with term bonds due in 2030 and 2033. The serial coupons range from 3% to 5% with yields from 0.96% to 2.74%. The 2030 bonds have a 5% coupon priced at 113.576 to yield 3.35%, and the 2033 bonds have a 5% coupon priced at 112.254 to yield 3.5%.
Proceeds will be used to finance highway capital projects.
| Issuer: | Virgin Islands Public Finance Authority
|
| Issue: | Series 2015 federal highway grant anticipation revenue loan notes
|
| Amount: | $89.88 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. and Bostonia Global Securities LLC
|
| Rating: | Standard & Poor’s: A
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4,465,000 | 2016 | Serial | 3% | 101.441 | 0.96%
|
| $3,335,000 | 2017 | Serial | 4% | 104.448 | 1.36%
|
| $3.47 million | 2018 | Serial | 5% | 108.899 | 1.63%
|
| $3,645,000 | 2019 | Serial | 5% | 111.282 | 1.84%
|
| $3,825,000 | 2020 | Serial | 5% | 113.132 | 2.06%
|
| $4,015,000 | 2021 | Serial | 5% | 114.484 | 2.28%
|
| $4.88 million | 2021 | Serial | 5% | 118.122 | 2.85%
|
| $4.22 million | 2022 | Serial | 5% | 115.688 | 2.45%
|
| $4.43 million | 2023 | Serial | 5% | 116.515 | 2.62%
|
| $4.65 million | 2024 | Serial | 5% | 117.404 | 2.74%
|
| $28.32 million | 2030 | Term | 5% | 113.576 | 3.35%
|
| $20,625,000 | 2033 | Term | 5% | 112.254 | 3.50%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
