Published on 7/9/2014 in the Prospect News Municipals Daily.
New Issue: Indiana Finance prices $242.99 million of I-69 private activity bonds
By Sheri Kasprzak
New York, July 9 – The Indiana Finance Authority priced $242,985,000 of series 2014 tax-exempt I-69 private activity bonds, according to a pricing sheet. The offering was downsized from $250 million.
The bonds were sold through Citigroup Global Markets Inc. and Jefferies & Co.
The bonds are due 2017 and 2025 to 2029 with term bonds due in 2034, 2040 and 2046. The serial coupons range from 4% to 5.25%. The 2034 bonds have a 5.25% coupon priced at 104.625 and the 2040 bonds have a 5.25% coupon priced at 103.079. The 2046 bonds have a 5% coupon priced at par.
Proceeds will be used to finance the expansion of a 21-mile section of State Road 37.
| Issuer: | Indiana Finance Authority
|
| Issue: | Series 2014 tax-exempt I-69 private activity bonds
|
| Amount: | $242,985,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Jefferies & Co. (lead)
|
| Pricing date: | July 9
|
| Settlement date: | July 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.52 million | 2017 | Serial | 4% | 105.763
|
| $6.16 million | 2025 | Serial | 5.25% | 110.478
|
| $5,385,000 | 2026 | Serial | 5.25% | 109.605
|
| $6.13 million | 2027 | Serial | 5.25% | 108.827
|
| $6,955,000 | 2028 | Serial | 5.25% | 108.141
|
| $7,775,000 | 2029 | Serial | 5.25% | 107.461
|
| $52,565,000 | 2034 | Term | 5.25% | 104.625
|
| $77,955,000 | 2040 | Term | 5.25% | 103.079
|
| $76.54 million | 2046 | Term | 5% | 100
|
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