Official Statement Airport Commission City and County of San ...
Official Statement Airport Commission City and County of San ...
Official Statement Airport Commission City and County of San ...
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Maturity<br />
Date<br />
(May 1)<br />
2011<br />
2012<br />
2018<br />
2019<br />
2020<br />
2021<br />
2024<br />
2030<br />
Maturity<br />
Date<br />
(May 1)<br />
2022<br />
2026<br />
2030<br />
<strong>Airport</strong> <strong>Commission</strong><br />
<strong>City</strong> <strong>and</strong> <strong>County</strong> <strong>of</strong> <strong>San</strong> Francisco, California<br />
<strong>San</strong> Francisco International <strong>Airport</strong><br />
Second Series Revenue Bonds<br />
Principal<br />
Amount<br />
$2,735,000<br />
2,895,000<br />
4,110,000<br />
4,355,000<br />
4,615,000<br />
4,895,000<br />
16,515,000<br />
43,100,000<br />
$83,220,000 Issue 25 (AMT)<br />
Dated Date: March 1, 2000<br />
Redemption Date: May 1, 2010<br />
Interest<br />
Rate<br />
6.00%<br />
5.75<br />
5.50<br />
5.50<br />
5.75<br />
5.75<br />
5.50<br />
5.75<br />
CUSIP<br />
(79765A)†<br />
KQ8<br />
KR6<br />
KX3<br />
KY1<br />
KZ8<br />
LA2<br />
LB0<br />
LC8<br />
<strong>Airport</strong> <strong>Commission</strong><br />
<strong>City</strong> <strong>and</strong> <strong>County</strong> <strong>of</strong> <strong>San</strong> Francisco, California<br />
<strong>San</strong> Francisco International <strong>Airport</strong><br />
Second Series Revenue Bonds<br />
Principal<br />
Amount<br />
$4,425,000<br />
17,855,000<br />
22,545,000<br />
$44,825,000 Issue 26A (AMT)<br />
Dated Date: December 1, 2000<br />
Redemption Date: May 1, 2010<br />
Interest<br />
Rate<br />
5.25%<br />
5.25<br />
5.25<br />
CUSIP<br />
(79765A)†<br />
QV1<br />
QZ2<br />
RD0<br />
Redemption<br />
Price<br />
101.0%<br />
101.0<br />
101.0<br />
101.0<br />
101.0<br />
101.0<br />
101.0<br />
101.0<br />
Redemption<br />
Price<br />
101.0%<br />
101.0<br />
101.0<br />
_______________<br />
† Copyright American Bankers Association. CUSIP data herein is provided by St<strong>and</strong>ard <strong>and</strong> Poor’s, CUSIP Service Bureau, a division <strong>of</strong><br />
The McGraw-Hill Companies, Inc. This data is not intended to create a database <strong>and</strong> does not serve in any way as a substitute for the<br />
CUSIP Service. CUSIP numbers are provided for convenience <strong>of</strong> reference only. None <strong>of</strong> the <strong>Commission</strong> or the Underwriters take any<br />
responsibility for the accuracy <strong>of</strong> such numbers.<br />
Series 2010A Swap Agreements<br />
In July 2007, in connection with the anticipated issuance <strong>of</strong> Bonds in 2010, the <strong>Commission</strong> entered into<br />
two forward starting interest rate swap agreements effective February 1, 2010 in the aggregate principal amount <strong>of</strong><br />
$215,920,000 (the “Series 2010A Swap Agreements,” formerly referred to as the Issue 35 Swap Agreements) in<br />
accordance with the Swap Policy (as defined herein) adopted by the <strong>Commission</strong> (see “<strong>Airport</strong>’s Financial <strong>and</strong><br />
Related Information–Interest Rate Swaps”) pursuant to which the <strong>Commission</strong> will receive monthly variable rate<br />
payments from the respective counterparties at variable rates commencing February 1, 2010, <strong>and</strong> the <strong>Commission</strong><br />
will pay fixed rates to the respective counterparty. The variable rate the <strong>Commission</strong> will receive under the Series<br />
2010A Swap Agreements is intended to approximate the variable rate the <strong>Commission</strong> pays on the 2010A Bonds.<br />
The initial aggregate notional amount <strong>of</strong> the Series 2010A Swap Agreements is $215,920,000 <strong>and</strong> declines<br />
concurrently with the repayment <strong>of</strong> the 2010A Bonds. The Series 2010A Swap Agreements terminate May 1, 2030.<br />
The counterparties to the Series 2010A Swap Agreements are DEPFA Bank plc, New York Branch (“DEPFA”) with<br />
respect to an initial notional amount equal to $71,973,000 <strong>and</strong> Goldman Sachs Group, Inc. (“Goldman”) with<br />
respect to an initial notional amount equal to $143,947,000. As <strong>of</strong> January 15, 2010, the payment obligations <strong>of</strong><br />
DEPFA were rated “A3” by Moody’s, “BBB” by St<strong>and</strong>ard & Poor’s <strong>and</strong> “A-” by Fitch. The payment obligations <strong>of</strong><br />
4