Published on 1/11/2012 in the Prospect News Municipals Daily.
New Issue: Virginia Port Authority sells $108.02 million port fund revenue bonds
By Sheri Kasprzak
New York, Jan. 11 - The Virginia Port Authority priced $108,015,000 of series 2012 port fund revenue refinancing bonds, according to a pricing sheet.
The bonds (Aa1//AA+) were sold through Morgan Stanley & Co. LLC.
The bonds are due 2013 to 2027 with 0.744% to 3.72% coupons, all priced at par.
Proceeds will be used to refund existing debt for a debt service savings.
Issuer: | Virginia Port Authority
|
Issue: | Series 2012 port fund revenue refinancing bonds
|
Amount: | $108,015,000
|
Type: | Negotiated
|
Underwriter: | Morgan Stanley & Co. LLC
|
Ratings: | Moody's: Aa1
|
| Fitch: AA+
|
Pricing date: | Jan. 11
|
Settlement date: | Jan. 25
|
|
Amount | Maturity | Type | Coupon | Price
|
$6.3 million | 2013 | Serial | 0.744% | 100
|
$6,345,000 | 2014 | Serial | 0.894% | 100
|
$6.4 million | 2015 | Serial | 1.16% | 100
|
$6.47 million | 2016 | Serial | 1.554% | 100
|
$6,575,000 | 2017 | Serial | 1.754% | 100
|
$6,695,000 | 2018 | Serial | 2.146% | 100
|
$6,835,000 | 2019 | Serial | 2.446% | 100
|
$7,005,000 | 2020 | Serial | 2.72% | 100
|
$7.19 million | 2021 | Serial | 2.92% | 100
|
$7,405,000 | 2022 | Serial | 3.07% | 100
|
$7,625,000 | 2023 | Serial | 3.22% | 100
|
$7,875,000 | 2024 | Serial | 3.37% | 100
|
$8.14 million | 2025 | Serial | 3.52% | 100
|
$8,425,000 | 2026 | Serial | 3.62% | 100
|
$8.73 million | 2027 | Serial | 3.72% | 100
|
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