Published on 1/28/2011 in the Prospect News Municipals Daily.
New Issue: Fulton County, Ga., Development sells $88.78 million for Georgia Tech Athletics
By Sheri Kasprzak
New York, Jan. 28 - The Development Authority of Fulton County in Georgia sold $88.775 million of series 2011 revenue bonds for the Georgia Tech Athletic Association, said a pricing sheet. The deal was cut from $97.9 million.
The bonds (A1/A+) were sold through Bank of America Merrill Lynch.
The bonds are due 2011 to 2031 with term bonds due 2036 and 2041. Serial coupons range from 2% to 5.75%. The 2036 bonds have a 5.75% coupon priced at 96.998 and the 2041 bonds have a 5.75% coupon priced at 96.104.
Proceeds will be used to finance improvements to Georgia Tech athletic facilities, including renovations to its basketball arena, the construction of an indoor football practice facility and other improvements, as well as to refund the association's series 2008A bonds.
| Issuer: | Development Authority of Fulton County/Georgia Tech Athletic Association
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $88.775 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: A1
|
| Fitch: A+
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $25,000 | 2011 | Serial | 2% | 100.457
|
| $130,000 | 2012 | Serial | 3% | 101.984
|
| $670,000 | 2013 | Serial | 4% | 104.611
|
| $705,000 | 2014 | Serial | 5% | 107.927
|
| $740,000 | 2015 | Serial | 5% | 108.248
|
| $775,000 | 2016 | Serial | 5% | 108.241
|
| $815,000 | 2017 | Serial | 5% | 107.418
|
| $855,000 | 2018 | Serial | 4% | 99.737
|
| $890,000 | 2019 | Serial | 4.25% | 99.498
|
| $930,000 | 2020 | Serial | 4.5% | 99.457
|
| $1.085 million | 2021 | Serial | 4.75% | 99.748
|
| $1.255 million | 2022 | Serial | 4.75% | 98.334
|
| $1.435 million | 2023 | Serial | 5% | 99.166
|
| $870,000 | 2024 | Serial | 5.125% | 98.886
|
| $760,000 | 2024 | Serial | 5.25% | 100.072
|
| $1.845 million | 2025 | Serial | 5.25% | 98.692
|
| $2.065 million | 2026 | Serial | 5.25% | 97.911
|
| $2.31 million | 2027 | Serial | 5.5% | 98.816
|
| $2.575 million | 2028 | Serial | 5.5% | 98.226
|
| $1.86 million | 2029 | Serial | 5.5% | 97.495
|
| $1 million | 2029 | Serial | 5.75% | 100.221
|
| $3.16 million | 2030 | Serial | 5.75% | 99.528
|
| $3.49 million | 2031 | Serial | 5.75% | 99.041
|
| $23.185 million | 2036 | Term | 5.75% | 96.998
|
| $35.345 million | 2041 | Term | 5.75% | 96.104
|
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