Published on 3/26/2013 in the Prospect News Municipals Daily.
New Issue: Collier County, Fla., prices $66.17 million special obligation refunding bonds
By Sheri Kasprzak
New York, March 26 - Collier County, Fla., came to market Tuesday with $66.17 million of series 2013 special obligation refunding revenue bonds, according to a pricing sheet.
The bonds (Aa2//AA) were sold competitively with Citigroup Global Markets Inc. winning the bid at a 3.837409% true interest cost.
The bonds are due 2025 to 2035 with 3.5% to 4% coupons.
Proceeds will be used to advance refund the county's series 2003 and 2005 capital improvement and refunding bonds.
| Issuer: | Collier County, Fla.
|
| Issue: | Series 2013 special obligation refunding revenue bonds
|
| Amount: | $66.17 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| True interest cost: | 3.837409%
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA
|
| Pricing date: | March 26
|
| Settlement date: | April 16
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.99 million | 2025 | Serial | 4% | 110.084
|
| $4,115,000 | 2026 | Serial | 4% | 108.18
|
| $4,275,000 | 2027 | Serial | 4% | 106.904
|
| $4,445,000 | 2028 | Serial | 4% | 106.147
|
| $4,625,000 | 2029 | Serial | 3.5% | 99.379
|
| $6.86 million | 2030 | Serial | 3.5% | 98.583
|
| $7,205,000 | 2031 | Serial | 3.5% | 98
|
| $7,565,000 | 2032 | Serial | 4% | 102.294
|
| $7.94 million | 2033 | Serial | 4% | 101.973
|
| $5,925,000 | 2034 | Serial | 4% | 101.575
|
| $6,225,000 | 2035 | Serial | 4% | 101.178
|
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