Published on 2/27/2013 in the Prospect News Municipals Daily.
New Issue: Alaska Municipal Bond Bank sells $96.05 million of G.O. bonds
By Sheri Kasprzak
New York, Feb. 27 - The Alaska Municipal Bond Bank sold $96,045,000 of series 2013-1 general obligation bonds, according to a pricing sheet.
The bonds (Aa2//AA+) were sold through RBC Capital Markets LLC and J.P. Morgan Securities LLC.
The bonds are due 2014 to 2033 with term bonds due in 2035, 2038, 2043 and 2047. The serial coupons range from 2% to 5%. The 2035 bonds have a 3.25% coupon priced at 96.942 and a 5% coupon priced at 116.068. The 2038 bonds have a 5% coupon priced at 114.419. The 2043 bonds have a 5% coupon priced at 113.424, and the 2047 bonds have a 5% coupon priced at 112.797.
Proceeds will be used to make loans to eight governmental units.
| Issuer: | Alaska Municipal Bond Bank
|
| Issue: | Series 2013-1 general obligation bonds
|
| Amount: | $96,045,000
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC and J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA+
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,145,000 | 2014 | Serial | 2% | 101.61
|
| $245,000 | 2015 | Serial | 2% | 103.022
|
| $1.96 million | 2015 | Serial | 4% | 106.776
|
| $745,000 | 2016 | Serial | 2% | 104.087
|
| $1.54 million | 2016 | Serial | 4% | 109.804
|
| $765,000 | 2017 | Serial | 3% | 108.48
|
| $1.6 million | 2017 | Serial | 4% | 112.301
|
| $790,000 | 2018 | Serial | 3% | 109.313
|
| $1.66 million | 2018 | Serial | 4% | 114.065
|
| $820,000 | 2019 | Serial | 3.5% | 112.426
|
| $1,725,000 | 2019 | Serial | 5% | 120.899
|
| $845,000 | 2020 | Serial | 3% | 109.229
|
| $1,815,000 | 2020 | Serial | 4% | 115.729
|
| $2.76 million | 2021 | Serial | 4% | 115.786
|
| $2,875,000 | 2022 | Serial | 4% | 115.942
|
| $2,985,000 | 2023 | Serial | 4% | 115.72
|
| $250,000 | 2024 | Serial | 3% | 104.98
|
| $2,255,000 | 2024 | Serial | 5% | 123.452
|
| $295,000 | 2025 | Serial | 3% | 103.819
|
| $2.32 million | 2025 | Serial | 5% | 122.462
|
| $2,745,000 | 2026 | Serial | 5% | 121.384
|
| $695,000 | 2027 | Serial | 3% | 100
|
| $2,195,000 | 2027 | Serial | 5% | 120.414
|
| $350,000 | 2028 | Serial | 3.125% | 100.209
|
| $2.67 million | 2028 | Serial | 5% | 119.644
|
| $3,165,000 | 2029 | Serial | 5% | 119.071
|
| $3,325,000 | 2030 | Serial | 5% | 118.501
|
| $3.49 million | 2031 | Serial | 5% | 118.028
|
| $300,000 | 2032 | Serial | 3.25% | 100
|
| $4.89 million | 2032 | Serial | 5% | 117.558
|
| $200,000 | 2033 | Serial | 3.25% | 98.554
|
| $5,245,000 | 2033 | Serial | 3.8% | 104.185
|
| $1.83 million | 2035 | Term | 3.25% | 96.942
|
| $5.03 million | 2035 | Term | 5% | 116.068
|
| $6,245,000 | 2038 | Term | 5% | 114.419
|
| $11.66 million | 2043 | Term | 5% | 113.424
|
| $11,615,000 | 2047 | Term | 5% | 112.797
|
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