By Sheri Kasprzak
New York, March 31 - The Greater Orlando Aviation Authority priced $167.505 million in series 2010 airport facilities revenue and revenue refunding bonds on Wednesday, according to a pricing sheet.
The bonds (Aa3/A+/AA-) were sold through Morgan Stanley & Co. Inc.
The co-managers were J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Raymond James & Associates Inc., Citigroup Global Markets Inc., Estrada Hinojosa & Co. Inc., FirstSouthwest Co., Gardnyr Michael Capital Inc., Jefferies & Co., Loop Capital Markets LLC, M.R. Beal & Co. Inc., RBC Capital Markets Corp. and SunTrust Robinson Humphrey Inc.
The sale included $82.11 million in series 2010A revenue bonds and $85.395 million in series 2010B refunding bonds.
The 2010A bonds are due 2014 to 2025 with term bonds due 2032 and 2040. Serial coupons range from 3.6% to 5%. The 2032 and 2040 bonds each have 5% coupons.
The 2010B bonds are due 2011 to 2018 with coupons from 3% to 5%.
Proceeds will be used to improve the airport's terminal baggage claim system and refund debt.
| Issuer: | Greater Orlando Aviation Authority
|
| Issue: | Series 2010 airport facilities revenue and revenue refunding bonds
|
| Amount: | $167.505 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead), J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Raymond James & Associates Inc., Citigroup Global Markets Inc., Estrada Hinojosa & Co. Inc., FirstSouthwest Co., Gardnyr Michael Capital Inc., Jefferies & Co., Loop Capital Markets LLC, M.R. Beal & Co. Inc., RBC Capital Markets Corp. and SunTrust Robinson Humphrey Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Pricing date: | March 31
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 4%
|
| 2016 | Serial | 4%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 3.6%
|
| 2019 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 4.125%
|
| 2023 | Serial | 4.25%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 5%
|
| 2032 | Term | 5%
|
| 2040 | Term | 5%
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 5%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 4.25%
|
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