Published on 9/5/2014 in the Prospect News Municipals Daily.
New Issue: Port of Portland, Ore., prices $90.97 million of airport revenue bonds
By Sheri Kasprzak
New York, Sept. 5 – The Port of Portland, Ore., prices $90.97 million of series 22 revenue bonds for the Portland International Airport, according to a pricing sheet.
The bonds (/AA-/) were sold through BofA Merrill Lynch and Goldman, Sachs & Co.
The bonds are due 2019 to 2034 with term bonds due in 2039 and 2044. The serial coupons range from 4% to 5%. The 2039 bonds have a 5% coupon priced at 110.655, and the 2044 bonds have a 5% coupon priced at 110.224.
Proceeds will be used to construct, equip, acquire and install improvements to the airport terminal and share infrastructure.
Issuer: | Port of Portland, Ore./Portland International Airport
|
Issue: | Series 22 revenue bonds
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Amount: | $90.97 million
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Type: | Negotiated
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Underwriters: | BofA Merrill Lynch and Goldman, Sachs & Co. (lead)
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Rating: | Standard & Poor’s: AA-
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Pricing date: | Sept. 4
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Settlement date: | Sept. 25
|
|
Amount | Maturity | Type | Coupon | Price
|
$1,825,000 | 2019 | Serial | 4% | 111.457
|
$1.9 million | 2020 | Serial | 5% | 116.913
|
$1,995,000 | 2021 | Serial | 5% | 117.511
|
$2.09 million | 2022 | Serial | 5% | 117.854
|
$2,195,000 | 2023 | Serial | 5% | 118.1
|
$2,305,000 | 2024 | Serial | 5% | 118.493
|
$2.42 million | 2025 | Serial | 5% | 117.559
|
$2,545,000 | 2026 | Serial | 5% | 116.542
|
$2.62 million | 2027 | Serial | 5% | 115.809
|
$2.75 million | 2028 | Serial | 5% | 115.081
|
$2.89 million | 2029 | Serial | 5% | 114.449
|
$3.03 million | 2030 | Serial | 5% | 113.91
|
$3,185,000 | 2031 | Serial | 5% | 113.375
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$3,345,000 | 2032 | Serial | 5% | 112.842
|
$3.51 million | 2033 | Serial | 5% | 112.401
|
$3,685,000 | 2034 | Serial | 5% | 111.961
|
$21,385,000 | 2039 | Term | 5% | 110.655
|
$27,295,000 | 2044 | Term | 5% | 110.224
|
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