By Sheri Kasprzak
New York, April 19 - The Calhoun Port Authority of Texas came to market with $50 million of series 2012 adjustable mode environmental facilities revenue bonds for Formosa Plastics Corp., according to an offering memorandum.
The bonds (/A+/A-1/) were sold through lead manager J.P. Morgan Securities LLC.
The bonds are due April 1, 2042 and bear interest at the adjustable-rate mode.
Proceeds will be used to finance the construction, equipment and acquisition of sewage and solid waste disposal facilities at Formosa's electric facility in Point Comfort, Texas.
Formosa Plastics produces PVC resins and other intermediate plastic products and is based in Taipei, Taiwan. The company has four wholly owned chemical manufacturing subsidiaries in the United States.
| Issuer: | Calhoun Port Authority, Texas/Formosa Plastics Corp.
|
| Issue: | Series 2012 adjustable mode environmental facilities revenue bonds
|
| Amount: | $50 million
|
| Maturity: | April 1, 2042
|
| Coupon: | Adjustable mode
|
| Price: | 100
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead)
|
| Ratings: | Standard & Poor's: A+/A-1
|
| Pricing date: | April 18
|
| Settlement date: | April 26
|
© 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.
