Published on 3/9/2012 in the Prospect News Municipals Daily.
New Issue: Alabama 21st Century sells $92.81 million 2012 tobacco settlement revenue bonds
By Sheri Kasprzak
New York, March 9 - The Alabama 21st Century Authority priced $92.81 million of series 2012 tobacco settlement revenue refunding bonds, according to a pricing sheet.
The bonds (/A-/BBB-) were sold through Citigroup Global Markets Inc.
The bonds are due 2013 to 2021 with 3% to 5% coupons.
Proceeds will be used to refund prior tobacco settlement revenue bonds.
| Issuer: | Alabama 21st Century Authority
|
| Issue: | Series 2012 tobacco settlement revenue refunding bonds
|
| Amount: | $92.81 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Standard & Poor's: A-
|
| Fitch: BBB-
|
| Pricing date: | March 9
|
| Settlement date: | March 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $180,000 | 2013 | Serial | 3% | 102.829
|
| $8,525,000 | 2014 | Serial | 3% | 104.451
|
| $8.82 million | 2015 | Serial | 4% | 108.561
|
| $9.16 million | 2016 | Serial | 4% | 110.034
|
| $9,585,000 | 2017 | Serial | 5% | 115.738
|
| $13,085,000 | 2018 | Serial | 5% | 116.547
|
| $13.76 million | 2019 | Serial | 5% | 116.902
|
| $14,465,000 | 2020 | Serial | 5% | 116.753
|
| $15.23 million | 2021 | Serial | 5% | 116.6
|
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