Published on 5/22/2014 in the Prospect News Municipals Daily.
New Issue: Alabama Public School and College prices $80.07 million refunding bonds
By Sheri Kasprzak
New York, May 22 - The Alabama Public School and College Authority priced $80,065,000 of series 2014A capital improvement refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA/AA+) were sold through The Frazer Lanier Co. Inc.
The bonds are due 2015 to 2026 with 2% to 5% coupons with yields from 0.20% to 2.72%.
Proceeds will be used to refund the authority's series 2005 capital improvement bonds.
| Issuer: | Alabama Public School and College Authority
|
| Issue: | Series 2014A capital improvement refunding bonds
|
| Amount: | $80,065,000
|
| Type: | Negotiated
|
| Underwriters: | The Frazer Lanier Co. Inc. (lead), Joe Jolly & Co. Inc., Merchant Capital LLC and Benchmark Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Fitch: AA+
|
| Pricing date: | May 15
|
| Settlement date: | May 28
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $5,745,000 | 2015 | Serial | 2% | 0.20%
|
| $5,895,000 | 2016 | Serial | 3% | 0.42%
|
| $6,075,000 | 2017 | Serial | 3% | 0.74%
|
| $6.29 million | 2018 | Serial | 4% | 1.08%
|
| $6,545,000 | 2019 | Serial | 4% | 1.37%
|
| $6.85 million | 2020 | Serial | 5% | 1.70%
|
| $7.2 million | 2021 | Serial | 5% | 1.98%
|
| $7.57 million | 2022 | Serial | 5% | 2.18%
|
| $7,955,000 | 2023 | Serial | 5% | 2.38%
|
| $8.36 million | 2024 | Serial | 5% | 2.50%
|
| $8,795,000 | 2025 | Serial | 5% | 2.61%
|
| $2,785,000 | 2026 | Serial | 5% | 2.72%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
