By Sheri Kasprzak
New York, June 5 - The Alaska Industrial Development & Export Authority priced $107.385 million in series 2008 revolving fund refunding bonds, said Valorie Walker, debt manager for the authority.
The bonds (A1/VMIG1) were sold on a negotiated basis with Goldman, Sachs & Co. and Merrill Lynch as the lead managers.
The bonds are due April 1, 2027 and have an initial rate of 1.75%, Walker said. The rate resets weekly.
The sale includes $53.795 million in series 2008A bonds and $53.59 million in series 2008B bonds.
Proceeds will be used to refund the authority's series 2007A and 2007B revolving fund bonds.
| Issuer: | Alaska Industrial Development & Export Authority
|
| Issue: | Series 2008A and 2008B revolving fund refunding bonds
|
| Amount: | $107.385 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Merrill Lynch
|
| Maturity: | April 1, 2027
|
| Coupon: | 1.75% (weekly)
|
| Price: | Par
|
| Yield: | 1.75%
|
| Rating: | Moody's: A1/VMIG1
|
| Pricing date: | May 29
|
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