By Sheri Kasprzak
New York, Sept. 15 - The City of Jacksonville, Fla., priced Wednesday $84.3 million in series 2010A-1 special revenue bonds, said a term sheet. The sale was upsized from $51.69 million.
The bonds (Aa2/AA-/AA) were priced in a limited competitive sale with Morgan Keegan & Co. Inc. winning the bid. The true interest cost came at 2.790029%, said Mickey Miller, the city's financing director.
The bonds are due 2012 to 2025 with 3.25% to 5% coupons.
Proceeds from the offering will be used to finance capital equipment and capital improvement costs.
Issuer: | City of Jacksonville, Fla.
|
Issue: | Series 2010A-1 special revenue bonds
|
Amount: | $84.3 million
|
Type: | Competitive
|
Underwriter: | Morgan Keegan & Co. Inc. (winner)
|
TIC: | 2.790029%
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
Pricing date: | Sept. 15
|
Settlement date: | Sept. 29
|
|
Maturity | Type | Coupon | Price
|
2012 | Serial | 5% | 108.026
|
2013 | Serial | 5% | 111.467
|
2014 | Serial | 5% | 114.101
|
2015 | Serial | 5% | 115.614
|
2016 | Serial | 5% | 116.527
|
2017 | Serial | 5% | 116.884
|
2018 | Serial | 5% | 117.165
|
2019 | Serial | 5% | 117.23
|
2020 | Serial | 5% | 117.176
|
2021 | Serial | 5% | 117.398
|
2022 | Serial | 5% | 117.389
|
2023 | Serial | 3.25% | 98.433
|
2024 | Serial | 3.375% | 98.625
|
2025 | Serial | 3.5% | 99.422
|
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