Published on 12/8/2015 in the Prospect News Municipals Daily.
New Issue: Fulton County Development, Ga., sells $55.4 million art center bonds
By Sheri Kasprzak
New York, Dec. 8 – The Fulton County Development Authority of Georgia sold $55,405,000 of series 2015 revenue bonds for the Robert W. Woodruff Arts Center, according to a pricing sheet.
The bonds (A2) were sold through senior managers Wells Fargo Securities LLC and SunTrust Robinson Humphrey Inc.
The deal included $40,185,000 of series 2015A tax-exempt bonds and $15.22 million of series 2015B taxable bonds.
The 2015A bonds are due 2024 to 2026 with a term bond due in 2036. The serial bonds have 5% coupons. The 2036 bonds have a 3.5% coupon priced at 97.306 and a 5% coupon priced at 113.42.
The 2015B bonds are due 2017 to 2024 with 1.835% to 3.779% coupons, all priced at par.
Proceeds will be loaned to the arts center to refund its series 2009B revenue bonds.
| Issuer: | Fulton County Development Authority/Robert W. Woodruff Arts Center
|
| Issue: | Series 2015 revenue bonds
|
| Amount: | $55,405,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and SunTrust Robinson Humphrey Inc. (lead)
|
| Rating: | Moody’s: A2
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 30
|
|
|
| $40,185,000 series 2015A tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.76 million | 2024 | Serial | 5% | 118.69
|
| $2,475,000 | 2025 | Serial | 5% | 119.357
|
| $2.6 million | 2026 | Serial | 5% | 119.609
|
| $13.35 million | 2036 | Term | 3.5% | 97.306
|
| $20 million | 2036 | Term | 5% | 113.42
|
|
|
| $15.22 million series 2015B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,935,000 | 2017 | Serial | 1.835% | 100
|
| $1,975,000 | 2018 | Serial | 2.273% | 100
|
| $2,015,000 | 2019 | Serial | 2.628% | 100
|
| $2.07 million | 2020 | Serial | 3.928% | 100
|
| $2.13 million | 2021 | Serial | 3.222% | 100
|
| $2.2 million | 2022 | Serial | 3.472% | 100
|
| $2,275,000 | 2023 | Serial | 3.579% | 100
|
| $620,000 | 2024 | Serial | 3.779% | 100
|
© 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.
