By Sheri Kasprzak
New York, April 16 - The city of Chicago priced $1,177,650,000 in series 2010 airport revenue bonds for the Chicago O'Hare International Airport on Wednesday, according to pricing sheets released Friday.
The sale included $91.59 million in series 2010A general airport third-lien bonds, $578 million in series 2010B general airport third-lien Build America Bonds, $171.45 million in series 2010C general airport third-lien bonds, $55.85 million in series 2010D general airport third-lien refunding bonds, $47.36 million in series 2010E general airport third-lien refunding bonds, $95.735 million in series 2010F general airport third-lien bonds, $24.965 million in series 2010A passenger facility charge taxable bonds, $51.305 million in series 2010B passenger facility charge taxable bonds, $48.495 million in series 2010C passenger facility charge taxable bonds and $12.9 million in series 2010D passenger facility charge taxable bonds.
The bonds were sold through Bank of America Merrill Lynch.
The 2010A general airport bonds are due 2012 to 2030 with term bonds due 2035 and 2040. Coupons range from 3% to 5%. The 2035 bonds have a 5% coupon priced at 99.013 and the 2040 bonds have a 5% coupon priced at 98.472.
The 2010B general airport bonds are due 2038 and 2040 with a split maturity for the 2040 bonds. The 2038 bonds have a 6.845% coupon, priced at par. The 2040 bonds have a 6.145% coupon and a 6.395% coupon, both priced at par.
The 2010C general airport bonds are due 2021 to 2030 with a term bond due 2035. The 2035 bonds have a split maturity. The coupons range from 4% to 5.25%. The 2035 bonds have a 4.875% coupon priced at 100.031 and a 5.25% coupon priced at 102.896.
The 2010D general airport bonds are due 2014 to 2019 with coupons from 5% to 5.25%.
The 2010E general airport bonds are due 2011 to 2016 with coupons from 1.75% to 5%.
The 2010F general airport bonds are due 2020 to 2030 with term bonds due 2035 and 2040. The serials have coupons from 4.25% to 5.25%. The 2035 bonds have a 5% coupon priced at 99.013 and the 2040 bonds have a 5% coupon priced at 98.472.
The 2010A passenger facility bonds are due 2025 to 2030 with term bonds due 2035 and 2040. Coupons range from 5% to 5.25%. The 2035 bonds have a 5% coupon priced at 97.916 and the 2040 bonds have a 5% coupon priced at 97.137.
The 2010B passenger facility bonds are due 2025 to 2030 with a term bond due 2035. The serials have coupons from 5% to 5.25%. The 2035 bonds have a 5% coupon priced at 97.137.
The series 2010C passenger facility bonds are due 2019 to 2028 with a term bond due 2031. Coupons range from 5.272% to 6.322%, all priced at par. The 2031 bonds have a 6.395% coupon, also priced at par.
The 2010D passenger facility refunding bonds are due 2011 and from 2013 to 2019 with coupons from 2% to 5%.
Proceeds will be used to refund commercial paper notes, as well as to modernize Chicago O'Hare International Airport.
| Issuer: | Chicago/Chicago O'Hare International Airport
|
| Issue: | Series 2010airport revenue bonds
|
| Amount: | $1,177,650,000
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch (lead)
|
| Pricing date: | April 14
|
| Settlement date: | April 29
|
|
|
| Series 2010A third-lien bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 4% | 104.331
|
| 2013 | Serial | 5% | 108.064
|
| 2014 | Serial | 3% | 102.165
|
| 2015 | Serial | 3.25% | 101.911
|
| 2016 | Serial | 5% | 108.508
|
| 2017 | Serial | 5% | 108.11
|
| 2018 | Serial | 4% | 100.917
|
| 2019 | Serial | 4% | 99.632
|
| 2021 | Serial | 4.375% | 100.347
|
| 2022 | Serial | 4.375% | 99.677
|
| 2023 | Serial | 4.5% | 100.149
|
| 2024 | Serial | 4.5% | 99.489
|
| 2025 | Serial | 4.5% | 98.725
|
| 2026 | Serial | 4.625% | 99.828
|
| 2027 | Serial | 4.625% | 99.133
|
| 2028 | Serial | 4.75% | 99.756
|
| 2029 | Serial | 4.75% | 98.895
|
| 2030 | Serial | 4.875% | 99.679
|
| 2035 | Term | 5% | 99.013
|
| 2040 | Term | 5% | 98.472
|
|
|
| Series 2010B taxable third-lien bonds
|
| Maturity | Type | Coupon | Price
|
| 2038 | Term | 6.845% | 100
|
| 2040 | Term | 6.145% | 100
|
| 2040 | Term | 6.395% | 100
|
|
|
| Series 2010C third-lien bonds
|
| Maturity | Type | Coupon | Price
|
| 2021 | Serial | 4% | 98.458
|
| 2021 | Serial | 5.25% | 108.435
|
| 2022 | Serial | 5.25% | 107.857
|
| 2023 | Serial | 5.25% | 107.282
|
| 2024 | Serial | 5.25% | 105.421
|
| 2025 | Serial | 4.25% | 97.645
|
| 2025 | Serial | 5.25% | 106.064
|
| 2026 | Serial | 5.25% | 105.903
|
| 2027 | Serial | 5.25% | 104.228
|
| 2028 | Serial | 5.25% | 103.677
|
| 2029 | Serial | 5.25% | 103.13
|
| 2030 | Serial | 5.25% | 103.834
|
| 2035 | Term | 4.875% | 100.031
|
| 2035 | Term | 5.25% | 102.896
|
|
|
| Series 2010D third-lien bonds
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 5.25% | 107.295
|
| 2015 | Serial | 5% | 106.143
|
| 2016 | Serial | 5.25% | 105.969
|
| 2017 | Serial | 5.25% | 105.453
|
| 2018 | Serial | 5.25% | 104.748
|
| 2019 | Serial | 5.25% | 103.873
|
|
|
| Series 2010E refunding third-lien bonds
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.75% | 100.447
|
| 2012 | Serial | 1.75% | 100
|
| 2013 | Serial | 3.5% | 102.332
|
| 2013 | Serial | 5% | 106.18
|
| 2014 | Serial | 4% | 102.992
|
| 2014 | Serial | 5% | 106.435
|
| 2015 | Serial | 4% | 101.874
|
| 2015 | Serial | 5% | 106.143
|
| 2016 | Serial | 4.5% | 102.204
|
| 2016 | Serial | 5% | 104.714
|
|
|
| Series 2010F third-lien bonds
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 4.25% | 100.31
|
| 2021 | Serial | 4.25% | 99.316
|
| 2022 | Serial | 4.375% | 99.677
|
| 2022 | Serial | 5.25% | 106.549
|
| 2023 | Serial | 4.5% | 100.149
|
| 2023 | Serial | 5.25% | 105.983
|
| 2024 | Serial | 4.5% | 99.489
|
| 2024 | Serial | 5.25% | 105.421
|
| 2025 | Serial | 4.5% | 98.725
|
| 2025 | Serial | 5.25% | 104.862
|
| 2026 | Serial | 4.5% | 98.447
|
| 2027 | Serial | 4.625% | 99.133
|
| 2027 | Serial | 5.25% | 104.228
|
| 2028 | Serial | 4.75% | 99.756
|
| 2029 | Serial | 4.75% | 98.895
|
| 2029 | Serial | 5.25% | 103.13
|
| 2030 | Serial | 4.875% | 99.679
|
| 2030 | Serial | 5.25% | 102.663
|
| 2035 | Term | 5% | 99.013
|
| 2040 | Term | 5% | 98.472
|
|
|
| Series 2010A passenger facility bonds
|
| Maturity | Type | Coupon | Price
|
| 2025 | Serial | 5% | 102.136
|
| 2026 | Serial | 5% | 101.981
|
| 2027 | Serial | 5% | 101.518
|
| 2028 | Serial | 5% | 100.982
|
| 2029 | Serial | 5.25% | 102.725
|
| 2030 | Serial | 5% | 100
|
| 2035 | Term | 5% | 97.916
|
| 2040 | Term | 5% | 97.137
|
|
|
| Series 2010B passenger facility bonds
|
| Maturity | Type | Coupon | Price
|
| 2025 | Serial | 5% | 102.136
|
| 2026 | Serial | 5% | 101.981
|
| 2027 | Serial | 5% | 101.518
|
| 2028 | Serial | 5% | 100.982
|
| 2029 | Serial | 5.25% | 102.725
|
| 2030 | Serial | 5% | 100
|
| 2035 | Term | 5% | 97.916
|
| 2040 | Term | 5% | 97.137
|
|
|
| Series 2010C taxable passenger facility bonds
|
| Maturity | Type | Coupon | Price
|
| 2019 | Serial | 5.272% | 100
|
| 2020 | Serial | 5.422% | 100
|
| 2021 | Serial | 5.522% | 100
|
| 2022 | Serial | 5.672% | 100
|
| 2023 | Serial | 5.772% | 100
|
| 2024 | Serial | 5.872% | 100
|
| 2025 | Serial | 6.022% | 100
|
| 2026 | Serial | 6.122% | 100
|
| 2027 | Serial | 6.222% | 100
|
| 2028 | Serial | 6.322% | 100
|
| 2031 | Term | 6.395% | 100
|
|
|
| Series 2010D passenger facility refunding bonds
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 100.59
|
| 2013 | Serial | 4% | 105.186
|
| 2014 | Serial | 4% | 105.37
|
| 2015 | Serial | 4% | 104.873
|
| 2015 | Serial | 5% | 109.149
|
| 2016 | Serial | 4% | 102.979
|
| 2016 | Serial | 5% | 108.032
|
| 2017 | Serial | 5% | 107.542
|
| 2018 | Serial | 5% | 107.098
|
| 2019 | Serial | 5% | 106.46
|
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