Published on 5/15/2014 in the Prospect News Municipals Daily.
New Issue: Jacksonville Electric, Fla., sells $88.87 million St. Johns River bonds
By Sheri Kasprzak
New York, May 15 - The Jacksonville Electric Authority of Florida sold $88.87 million of issue three, series seven St. Johns River Power Park System revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA-/AA) were sold through BofA Merrill Lynch and Citigroup Global Markets Inc.
The bonds are due 2014 to 2033 with 2% to 5% coupons and yields from 0.18% to 3.79%.
Proceeds will be used to refund the authority's issue three, series two St. Johns River Power Park System revenue bonds.
| Issuer: | Jacksonville Electric Authority, Fla.
|
| Issue: | Issue three, series seven St. Johns River Power Park System revenue bonds
|
| Amount: | $88.87 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Citigroup Global Markets Inc. (lead); Barclays; BMO Capital Markets LLC; Goldman, Sachs & Co.; Jefferies & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Morgan Stanley & Co. LLC; Piper Jaffray & Co.; Raymond James/Morgan Keegan; RBC Capital Markets LLC; U.S. Bancorp Investments Inc.; and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
| Pricing date: | May 15
|
| Settlement date: | May 29
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $75,000 | 2014 | Serial | 2% | 100.616 | 0.18%
|
| $225,000 | 2015 | Serial | 2% | 102.283 | 0.29%
|
| $5,335,000 | 2016 | Serial | 4% | 108.225 | 0.46%
|
| $250,000 | 2017 | Serial | 3% | 107.096 | 0.84%
|
| $3,425,000 | 2018 | Serial | 5% | 116.201 | 1.16%
|
| $4,125,000 | 2019 | Serial | 5% | 117.61 | 1.55%
|
| $1.57 million | 2020 | Serial | 2% | 99.703 | 2.05%
|
| $2,045,000 | 2021 | Serial | 2.5% | 100.646 | 2.37%
|
| $2.19 million | 2022 | Serial | 2.5% | 99.327 | 2.59%
|
| $4.2 million | 2023 | Serial | 3% | 101.082 | 2.78%
|
| $2,215,000 | 2024 | Serial | 3% | 100.292 | 2.94%
|
| $10.09 million | 2025 | Serial | 3% | 98.576 | 3.15%
|
| $9,795,000 | 2026 | Serial | 3.125% | 98.734 | 3.25%
|
| $9.64 million | 2027 | Serial | 3.25% | 98.822 | 3.36%
|
| $5,265,000 | 2028 | Serial | 3.375% | 99.49 | 3.42%
|
| $5.4 million | 2029 | Serial | 3.375% | 98.406 | 3.51%
|
| $5,535,000 | 2030 | Serial | 3.5% | 99.013 | 3.58%
|
| $5,685,000 | 2031 | Serial | 3.5% | 98.081 | 3.65%
|
| $5,825,000 | 2032 | Serial | 3.625% | 98.741 | 3.72%
|
| $5.98 million | 2033 | Serial | 3.625% | 97.748 | 3.79%
|
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