Published on 8/20/2015 in the Prospect News Municipals Daily.
New Issue: Indiana Bond Bank offers $103.49 million school severance refunding bonds
By Sheri Kasprzak
New York, Aug. 20 – The Indiana Bond Bank sold $103.49 million of series 2015A taxable school severance refunding bonds, said a pricing sheet.
The bonds (/AA+/) were sold through senior managers Raymond James/Morgan Keegan and City Securities Corp.
The bonds are due 2016 to 2027 with a term bond due in 2029. The serial coupons range from 0.70% to 3.576% and all priced at par. The 2029 bonds have a 3.926% coupon and priced at par.
Proceeds will be used to refund the bond bank’s series 8A, 9, 10 and 11 school severance bonds.
| Issuer: | Indiana Bond Bank
|
| Issue: | Series 2015A taxable school severance refunding bonds
|
| Amount: | $103.49 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and City Securities Corp.
|
| Rating: | Standard & Poor’s: AA+
|
| Pricing date: | Aug. 20
|
| Settlement date: | Sept. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,605,000 | 2016 | Serial | 0.70% | 100
|
| $5.87 million | 2016 | Serial | 0.78% | 100
|
| $6,455,000 | 2017 | Serial | 1.057% | 100
|
| $6.51 million | 2017 | Serial | 1.157% | 100
|
| $6.55 million | 2018 | Serial | 1.442% | 100
|
| $6,355,000 | 2018 | Serial | 1.542% | 100
|
| $6.4 million | 2019 | Serial | 1.95% | 100
|
| $6,355,000 | 2019 | Serial | 2.05% | 100
|
| $6.42 million | 2020 | Serial | 2.25% | 100
|
| $5,505,000 | 2020 | Serial | 2.35% | 100
|
| $5.57 million | 2021 | Serial | 2.46% | 100
|
| $4.09 million | 2021 | Serial | 2.56% | 100
|
| $4.14 million | 2022 | Serial | 2.71% | 100
|
| $2,855,000 | 2022 | Serial | 2.81% | 100
|
| $2,895,000 | 2023 | Serial | 2.976% | 100
|
| $2.93 million | 2023 | Serial | 3.076% | 100
|
| $2,975,000 | 2024 | Serial | 3.126% | 100
|
| $3,025,000 | 2024 | Serial | 3.226% | 100
|
| $3,075,000 | 2025 | Serial | 3.276% | 100
|
| $2.79 million | 2025 | Serial | 3.326% | 100
|
| $2,835,000 | 2026 | Serial | 3.426% | 100
|
| $1.97 million | 2026 | Serial | 3.476% | 100
|
| $2,005,000 | 2027 | Serial | 3.576% | 100
|
| $310,000 | 2029 | Term | 3.926% | 100
|
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