Published on 7/1/2014 in the Prospect News Municipals Daily.
New Issue: Alabama Public School and College prices $554.52 million refunding debt
By Sheri Kasprzak
New York, July 1 – The Alabama Public School and College Authority priced $554.52 million of series 2014B capital improvement refunding bonds, said a pricing sheet.
The bonds (/AA/) were sold competitively. The issuer did not immediately respond to calls for the winning bidder Tuesday.
The bonds are due 2019 to 2027 with 5% coupons.
Proceeds will be used to refund the authority’s series 2007 capital improvement bonds.
| Issuer: | Alabama Public School and College Authority
|
| Issue: | Series 2014B capital improvement refunding bonds
|
| Amount: | $554.52 million
|
| Type: | Competitive
|
| Rating: | Standard & Poor’s: AA
|
| Pricing date: | July 1
|
| Settlement date: | July 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $51.74 million | 2019 | Serial | 5% | 116.223
|
| $56,845,000 | 2020 | Serial | 5% | 117.812
|
| $58,515,000 | 2021 | Serial | 5% | 119.138
|
| $60.85 million | 2022 | Serial | 5% | 120.117
|
| $59,845,000 | 2023 | Serial | 5% | 120.853
|
| $62.44 million | 2024 | Serial | 5% | 121.538
|
| $65.71 million | 2025 | Serial | 5% | 121.163
|
| $68.04 million | 2026 | Serial | 5% | 120.091
|
| $71,075,000 | 2027 | Serial | 5% | 119.03
|
|
|
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