By Sheri Kasprzak
New York, May 11 - The State of Alabama sold $190.235 million in series 2010 general obligation bonds in two tranches Tuesday, according to term sheets.
The sale included $80.235 million in series 2010C G.O. refunding bonds and $110 million in series 2010D capital improvement bonds.
The bonds were sold on a competitive basis with Citigroup Global Markets Inc. winning the bid. The financial adviser was Public FA, Inc.
The 2010C bonds are due 2012 to 2021 with coupons from 3.25% to 5%. The 2010D bonds are due 2013 to 2032 with coupons from 3% to 5%. A number of the 2010D bonds were not reoffered.
Proceeds from the deal will be used to fund capital expenditures and to refund debt.
Issuer: | State of Alabama
|
Issue: | Series 2010 general obligation bonds
|
Amount: | $190.235 million
|
Type: | Competitive
|
Underwriter: | Citigroup Global Markets Inc.
|
Pricing date: | May 11
|
Settlement date: | May 25
|
|
Series 2010C
|
Maturity | Type | Coupon | Price
|
2012 | Serial | 5% | 108.343
|
2013 | Serial | 5% | 111.067
|
2014 | Serial | 5% | 113.05
|
2015 | Serial | 4% | 109.651
|
2016 | Serial | 5% | 114.485
|
2017 | Serial | 5% | 114.611
|
2018 | Serial | 5% | 114.924
|
2019 | Serial | 5% | 114.93
|
2020 | Serial | 4% | 106.368
|
2021 | Serial | 3.25% | 99.002
|
|
Series 2010D
|
Maturity | Type | Coupon | Price
|
2013 | Serial | 4% | 108.457
|
2014 | Serial | 4% | 109.709
|
2015 | Serial | 4% | NRO
|
2016 | Serial | 4% | NRO
|
2017 | Serial | 4% | 109.261
|
2018 | Serial | 5% | 116.166
|
2019 | Serial | 4.25% | NRO
|
2020 | Serial | 3% | NRO
|
2021 | Serial | 5% | NRO
|
2022 | Serial | 5% | NRO
|
2023 | Serial | 5% | NRO
|
2024 | Serial | 5% | NRO
|
2025 | Serial | 5% | NRO
|
2026 | Serial | 4% | NRO
|
2027 | Serial | 4.625% | NRO
|
2028 | Serial | 5% | NRO
|
2029 | Serial | 5% | NRO
|
2030 | Serial | 5% | NRO
|
2031 | Serial | 5% | NRO
|
2032 | Serial | 5% | NRO
|
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