Published on 11/1/2013 in the Prospect News Municipals Daily.
New Issue: Alaska Municipal Bond Bank sells $72.05 million G.O. bonds
By Sheri Kasprzak
New York, Nov. 1 - The Alaska Municipal Bond Bank sold $72,045,000 of series 2013-3 general obligation bonds, according to a pricing sheet.
The bonds (Aa2//AA+) were sold through senior managers RBC Capital Markets LLC and KeyBanc Capital Markets Inc.
The bonds are due 2014 to 2036 with term bonds due in 2042 and 2048. The serial coupons range from 1.5% to 5% with 0.21% to 4.5% yields. The 2042 bonds have a 5% coupon priced at 104.212 to yield 4.46%. The 2048 bonds have a 5% coupon priced at 103.098 to yield 4.6%.
Proceeds will be used to make five loans to governmental units, including cities, towns and school districts.
Issuer: | Alaska Municipal Bond Bank
|
Issue: | Series 2013-3 general obligation bonds
|
Amount: | $72,045,000
|
Type: | Negotiated
|
Underwriters: | RBC Capital Markets LLC and KeyBanc Capital Markets Inc. (lead)
|
Ratings: | Moody's: Aa2
|
| Fitch: AA+
|
Pricing date: | Nov. 1
|
Settlement date: | Nov. 14
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$1.54 million | 2014 | Serial | 2% | 101.276 | 0.21%
|
$2,015,000 | 2015 | Serial | 3% | 104.488 | 0.37%
|
$2,055,000 | 2016 | Serial | 1.5% | 102.418 | 0.60%
|
$2,115,000 | 2017 | Serial | 4% | 111.374 | 0.88%
|
$2.2 million | 2018 | Serial | 4% | 112.989 | 1.16%
|
$2.27 million | 2019 | Serial | 2% | 101.954 | 1.64%
|
$2.35 million | 2020 | Serial | 5% | 118.757 | 2.00%
|
$2.46 million | 2021 | Serial | 4% | 111.426 | 2.37%
|
$2,575,000 | 2022 | Serial | 5% | 118.859 | 2.57%
|
$2,705,000 | 2023 | Serial | 5% | 118.78 | 2.78%
|
$1.92 million | 2024 | Serial | 5% | 117.108 | 2.96%
|
$2,015,000 | 2025 | Serial | 5% | 115.464 | 3.14%
|
$2,115,000 | 2026 | Serial | 5% | 113.847 | 3.32%
|
$2.23 million | 2027 | Serial | 5% | 112.52 | 3.47%
|
$2.34 million | 2028 | Serial | 5% | 111.298 | 3.61%
|
$2.46 million | 2029 | Serial | 5% | 110.263 | 3.73%
|
$2.57 million | 2030 | Serial | 4% | 98.199 | 4.15%
|
$3,595,000 | 2031 | Serial | 5% | 108.396 | 3.95%
|
$3.78 million | 2032 | Serial | 5% | 107.56 | 4.05%
|
$3,975,000 | 2033 | Serial | 5% | 107.062 | 4.11%
|
$2,155,000 | 2035 | Serial | 5% | 105.993 | 4.24%
|
$1,155,000 | 2036 | Serial | 4.5% | 100 | 4.50%
|
$8.28 million | 2042 | Term | 5% | 104.212 | 4.46%
|
$11.17 million | 2048 | Term | 5% | 103.098 | 4.60%
|
© 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.