By Sheri Kasprzak
New York, May 17 - The Alabama Public School and College Authority priced $78.17 million of series 2011 capital improvement bonds, said a pricing sheet.
The deal included $51.27 million of series 2011A capital improvement pool QZAB bonds and $26.9 million of series 2011B capital improvement pool refunding bonds.
The bonds (Aa1/AA/AA+) were sold competitively.
The 2011A bonds are due May 1, 2026 and have a 4.6% coupon priced at par. The 2011B bonds are due 2012 to 2013 and 2019 to 2021 with 2% to 5% coupons.
Proceeds will be used to repair and purchase equipment for qualified public schools, as well as to refund the authority's series 2001A bonds.
| Issuer: | Alabama Public School and College Authority
|
| Issue: | Series 2011 capital improvement bonds
|
| Amount: | $78.17 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Fitch: AA+
|
| Pricing date: | May 17
|
| Settlement date: | June 2
|
|
|
| $51.27 million series 2011A
|
| Maturity | Type | Coupon | Price
|
| May 1, 2026 | Term | 4.6% | 100
|
|
|
| $26.9 million series 2011B
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.32 million | 2012 | Serial | 2% | 101.596
|
| $4.45 million | 2013 | Serial | 3% | 104.657
|
| $4.965 million | 2019 | Serial | 5% | 118.32
|
| $6.42 million | 2020 | Serial | 5% | 118.371
|
| $6.745 million | 2021 | Serial | 5% | 118.262
|
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