By Sheri Kasprzak
New York, Dec. 7 - The State of Alaska sold $182.155 million of series 2010 general obligation bonds on Tuesday, downsized from $200 million, according to a pricing sheet.
The bonds (Aaa/AA+/AA+) were sold through Citigroup Global Markets Inc. and RBC Capital Markets Corp. The co-managers were J.P. Morgan Securities LLC and Bank of America Merrill Lynch.
The offering included $119.57 million of series 2010A Build America Bonds, $45 million of series 2010B qualified school construction bonds and $17.585 million of series 2010C tax-exempt bonds.
The 2010A bonds are due 2026 to 2030 with a term bond due 2033. The serial coupons range from 5.242% to 5.642%, all priced at par. The 2033 bonds have a 5.742% coupon priced at par.
The 2010B bonds are due 2026 to 2028 with 5.242% to 5.442% coupons, all priced at par.
The 2010C bonds are due 2011 to 2012 with 5% coupons. The bonds were not reoffered.
Proceeds will be used to design and construct library, educational and educational research facilities throughout the state.
Issuer: | State of Alaska
|
Issue: | Series 2010 general obligation bonds
|
Amount: | $182.155 million
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. and RBC Capital Markets Corp. (lead); J.P. Morgan Securities LLC and Bank of America Merrill Lynch (co-managers)
|
Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
Pricing date: | Dec. 7
|
Settlement date: | Dec. 14
|
|
$119.57 million series 2010A Build America Bonds
|
Amount | Maturity | Type | Coupon | Price
|
$4.09 million | 2026 | Serial | 5.242% | 100
|
$4.235 million | 2027 | Serial | 5.342% | 100
|
$4.39 million | 2028 | Serial | 5.442% | 100
|
$19.825 million | 2029 | Serial | 5.542% | 100
|
$20.56 million | 2030 | Serial | 5.642% | 100
|
$66.47 million | 2033 | Term | 5.742% | 100
|
|
$45 million series 2010B qualified school construction bonds
|
Amount | Maturity | Type | Coupon | Price
|
$15 million | 2026 | Serial | 5.242% | 100
|
$15 million | 2027 | Serial | 5.342% | 100
|
$15 million | 2028 | Serial | 5.442% | 100
|
|
$17.585 million series 2010C tax-exempt bonds
|
Maturity | Type | Coupon | Price
|
2011 | Serial | 5% | NRO
|
2012 | Serial | 5% | NRO
|
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