Published on 7/25/2014 in the Prospect News Municipals Daily.
New Issue: Alabama offers $187.09 million of G.O. refunding bonds
By Sheri Kasprzak
New York, July 25 – The State of Alabama priced $187,085,000 of series 2014A general obligation refunding bonds, said a pricing sheet. The deal was cut from $200,625,000.
The bonds (/AA/AA+) were sold competitively. The issuer did not respond to requests for the winning bidder by press time Friday.
The bonds are due 2017 to 2026 with 3% to 5% coupons and 0.55% to 2.60% yields.
Proceeds will be used to refund outstanding debt.
| Issuer: | State of Alabama
|
| Issue: | Series 2014A general obligation refunding bonds
|
| Amount: | $187,085,000
|
| Type: | Competitive
|
| Ratings: | Standard & Poor’s: AA
|
| Fitch: AA+
|
| Pricing date: | July 24
|
| Settlement date: | Aug. 6
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.86 million | 2017 | Serial | 5% | 113.161 | 0.55%
|
| $16,955,000 | 2018 | Serial | 5% | 116.017 | 0.90%
|
| $17,735,000 | 2019 | Serial | 5% | 118.178 | 1.23%
|
| $18.55 million | 2020 | Serial | 5% | 120.029 | 1.49%
|
| $19.4 million | 2021 | Serial | 5% | 121.284 | 1.75%
|
| $20.29 million | 2022 | Serial | 5% | 122.206 | 1.98%
|
| $21,235,000 | 2023 | Serial | 5% | 123.175 | 2.15%
|
| $22.26 million | 2024 | Serial | 5% | 124.27 | 2.27%
|
| $23,355,000 | 2025 | Serial | 5% | 123.164 | 2.38%
|
| $24,445,000 | 2026 | Serial | 3% | 103.497 | 2.60%
|
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