By Sheri Kasprzak
New York, Aug. 25 - The Alaska Municipal Bond Bank priced $78.12 million of series 2011-3 general obligation and refunding bonds, said a pricing sheet.
The bonds (Aa2/AA/) were sold through Morgan Stanley & Co. Inc. and RBC Capital Markets LLC.
The bonds are due 2012 to 2026 with term bonds due in 2031 and 2036. The serial coupons range from 2% to 5%. The 2031 bonds have a 5% coupon priced at 107.721, and the 2036 bonds have a 4.25% coupon priced at 99.237.
Proceeds will be used to fund loans to six governmental units to pay for school construction projects, landfill capital improvements and library and museum construction projects, as well as to refund a loan issued by the U.S. Department of Agriculture Rural Development.
| Issuer: | Alaska Municipal Bond Bank
|
| Issue: | Series 2011-3 general obligation and refunding bonds
|
| Amount: | $78.115 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and RBC Capital Markets LLC (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $420,000 | 2012 | Serial | 2% | 100.782
|
| $445,000 | 2012 | Serial | 3% | 102.54
|
| $1.96 million | 2013 | Serial | 4% | 106.72
|
| $6.325 million | 2014 | Serial | 5% | 112.579
|
| $6.87 million | 2015 | Serial | 4% | 112.036
|
| $7.285 million | 2016 | Serial | 5% | 117.825
|
| $6.835 million | 2017 | Serial | 5% | 119.006
|
| $7.18 million | 2018 | Serial | 5% | 119.762
|
| $7.48 million | 2019 | Serial | 4% | 112.845
|
| $7.165 million | 2020 | Serial | 5% | 120.047
|
| $7.75 million | 2021 | Serial | 5% | 120.066
|
| $8.76 million | 2022 | Serial | 5% | 117.675
|
| $5.555 million | 2023 | Serial | 5% | 115.433
|
| $500,000 | 2024 | Serial | 4% | 105.552
|
| $520,000 | 2025 | Serial | 4% | 104.344
|
| $540,000 | 2026 | Serial | 4% | 103.322
|
| $1.425 million | 2031 | Term | 5% | 107.721
|
| $1.1 million | 2036 | Term | 4.25% | 99.237
|
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