Published on 3/22/2012 in the Prospect News Municipals Daily.
New Issue: Jacksonville, Fla., prices $209.39 million transportation refunding revenue bonds
By Sheri Kasprzak
New York, March 22 - The City of Jacksonville, Fla., came to market with $209.39 million of series 2012 transportation refunding revenue bonds, according to a pricing sheet.
The bonds (A1/AA-/AA-) were sold through Goldman Sachs & Co. The co-managers were CastleOak Securities LP, Loop Capital Markets LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.
The deal included $151.66 million of series 2012A bonds and $57.73 million of series 2012B bonds.
The 2012A bonds are due 2022 to 2031 with 4% to 5% coupons. The 2012B bonds are due 2013 to 2022 with 2% to 5% coupons.
Proceeds will be used to refund the city's series 2001 bonds and series 1997 state bonds.
| Issuer: | City of Jacksonville, Fla.
|
| Issue: | Series 2012 transportation refunding revenue bonds
|
| Amount: | $209.39 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. (lead); CastleOak Securities LP, Loop Capital Markets LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | March 22
|
| Settlement date: | March 29
|
|
|
| $151.66 million series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,155,000 | 2022 | Serial | 4% | 103.473
|
| $11.14 million | 2023 | Serial | 5% | 112.091
|
| $11.69 million | 2024 | Serial | 5% | 111.962
|
| $12,265,000 | 2025 | Serial | 5% | 111.798
|
| $12.87 million | 2026 | Serial | 5% | 111.509
|
| $12.63 million | 2027 | Serial | 5% | 111.103
|
| $880,000 | 2027 | Serial | 4.125% | 99.489
|
| $20,425,000 | 2028 | Serial | 5% | 110.717
|
| $21,445,000 | 2029 | Serial | 5% | 110.634
|
| $22,515,000 | 2030 | Serial | 5% | 110.63
|
| $11,295,000 | 2031 | Serial | 4.25% | 98.049
|
| $12.35 million | 2031 | Serial | 5% | 110.298
|
|
|
| $57.73 million series 2012B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $9,675,000 | 2013 | Serial | 2% | 101.867
|
| $2,205,000 | 2014 | Serial | 3% | 104.505
|
| $2,185,000 | 2015 | Serial | 4% | 108.327
|
| $3.35 million | 2016 | Serial | 4% | 108.801
|
| $3,575,000 | 2017 | Serial | 5% | 114.388
|
| $5.72 million | 2018 | Serial | 5% | 114.15
|
| $6,055,000 | 2019 | Serial | 5% | 113.856
|
| $6.38 million | 2020 | Serial | 5% | 112.992
|
| $10,115,000 | 2021 | Serial | 5% | 112.212
|
| $8.47 million | 2022 | Serial | 5% | 112.156
|
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