Published on 8/23/2012 in the Prospect News Municipals Daily.
New Issue: Chicago O'Hare International Airport sells $452.09 million of passenger facility bonds
By Sheri Kasprzak
New York, Aug. 23 - The Chicago O'Hare International Airport came to market Thursday with $452,095,000 of series 2012 passenger facility charge revenue refunding bonds, said pricing sheets.
The deal included $114,855,000 of series 2012A non-AMT bonds and $337.24 million of series 2012B AMT bonds.
The 2012A bonds are due 2014 and 2017 to 2032 with 3% to 5% coupons. The 2012B bonds are due 2013 to 2032 with 2.5% to 5% coupons.
The bonds (A2/A-/A) were sold through Citigroup Global Markets Inc. The co-managers were Wells Fargo Securities LLC, Loop Capital Markets LLC, Backstrom McCarley Berry & Co. LLC, BNY Mellon, Gardner Rich, Jackson Securities LLC, J.P. Morgan Securities LLC, Oppenheimer & Co. Inc., Rockfleet and Touissant Capital Partners.
Proceeds will be used to refund existing passenger facility charge bonds.
| Issuer: | Chicago O'Hare International Airport
|
| Issue: | Series 2012 passenger facility charge revenue refunding bonds
|
| Amount: | $452,095,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Wells Fargo Securities LLC, Loop Capital Markets LLC, Backstrom McCarley Berry & Co. LLC, BNY Mellon, Gardner Rich, Jackson Securities LLC, J.P. Morgan Securities LLC, Oppenheimer & Co. Inc., Rockfleet and Touissant Capital Partners (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
| Pricing date: | Aug. 23
|
| Settlement date: | Sept. 12
|
|
|
| $114,855,000 series 2012A non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.15 million | 2014 | Serial | 5% | 105.916
|
| $3,345,000 | 2017 | Serial | 5% | 116.115
|
| $3,515,000 | 2018 | Serial | 5% | 117.05
|
| $3,685,000 | 2019 | Serial | 5% | 117.614
|
| $2 million | 2020 | Serial | 3% | 104.404
|
| $3.88 million | 2020 | Serial | 5% | 117.757
|
| $350,000 | 2021 | Serial | 3% | 102.967
|
| $5,785,000 | 2021 | Serial | 5% | 117.815
|
| $1.48 million | 2022 | Serial | 4% | 110.022
|
| $4.95 million | 2022 | Serial | 5% | 118.173
|
| $6.74 million | 2023 | Serial | 5% | 117.01
|
| $7,075,000 | 2024 | Serial | 5% | 116.302
|
| $7,435,000 | 2025 | Serial | 5% | 115.51
|
| $7,805,000 | 2026 | Serial | 5% | 114.899
|
| $630,000 | 2027 | Serial | 3.5% | 100
|
| $7.56 million | 2027 | Serial | 5% | 114.292
|
| $8.59 million | 2028 | Serial | 5% | 113.947
|
| $9.02 million | 2029 | Serial | 5% | 113.346
|
| $9.47 million | 2030 | Serial | 5% | 112.834
|
| $9.95 million | 2031 | Serial | 5% | 112.324
|
| $2,545,000 | 2032 | Serial | 3.875% | 100
|
| $7,895,000 | 2032 | Serial | 5% | 111.986
|
|
|
| $337.24 million series 2012B AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,845,000 | 2013 | Serial | 2.5% | NRO
|
| $11,285,000 | 2014 | Serial | 5% | 105.606
|
| $7,505,000 | 2015 | Serial | 5% | 109.153
|
| $9,365,000 | 2016 | Serial | 5% | 111.956
|
| $13,125,000 | 2017 | Serial | 5% | 113.856
|
| $13.78 million | 2018 | Serial | 5% | 114.423
|
| $14,475,000 | 2019 | Serial | 5% | 114.491
|
| $15.19 million | 2020 | Serial | 4% | 107.804
|
| $15,805,000 | 2021 | Serial | 5% | 114.203
|
| $16,595,000 | 2022 | Serial | 5% | 114.206
|
| $17.42 million | 2023 | Serial | 5% | 113.26
|
| $18,295,000 | 2024 | Serial | 5% | 112.324
|
| $19,205,000 | 2025 | Serial | 5% | 111.481
|
| $20,165,000 | 2026 | Serial | 5% | 110.728
|
| $21.18 million | 2027 | Serial | 4% | 99.241
|
| $44,925,000 | 2029 | Serial | 4% | 97.651
|
| $23.82 million | 2030 | Serial | 5% | 108.833
|
| $25 million | 2031 | Serial | 5% | 108.589
|
| $26.26 million | 2032 | Serial | 5% | 108.264
|
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