Published on 6/8/2016 in the Prospect News Municipals Daily.
New Issue: Indiana Finance sells $138.7 million of taxable facilities revenue bonds
By Sheri Kasprzak
New York, June 8 – The Indiana Finance Authority sold $138.7 million of series 2016A taxable facilities revenue bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold through J.P. Morgan Securities LLC.
The bonds are due 2020 to 2031 with a term bond due in 2036. The serial coupons range from 1.581% to 3.266% all priced at par. The 2036 bonds have a 3.624% coupon priced at par.
Proceeds will be used to construct, acquire, equip and improve facilities at Evansville State Hospital.
| Issuer: | Indiana Finance Authority
|
| Issue: | Series 2016A taxable facilities revenue bonds
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| Amount: | $138.7 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), RBC Capital Markets LLC, PNC Capital Markets LLC, City Securities Corp. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
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| Fitch: AA+
|
| Pricing date: | June 7
|
| Settlement date: | June 21
|
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|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6,675,000 | 2020 | Serial | 1.581% | 100 | 1.581%
|
| $6.78 million | 2021 | Serial | 1.781% | 100 | 1.781%
|
| $6,985,000 | 2022 | Serial | 1.959% | 100 | 1.959%
|
| $7.03 million | 2023 | Serial | 2.159% | 100 | 2.159%
|
| $7.18 million | 2024 | Serial | 2.366% | 100 | 2.366%
|
| $7.35 million | 2025 | Serial | 2.516% | 100 | 2.516%
|
| $7,535,000 | 2026 | Serial | 2.616% | 100 | 2.616%
|
| $7.73 million | 2027 | Serial | 2.816% | 100 | 2.816%
|
| $7.95 million | 2028 | Serial | 2.916% | 100 | 2.916%
|
| $8.18 million | 2029 | Serial | 3.066% | 100 | 3.066%
|
| $8.43 million | 2030 | Serial | 3.166% | 100 | 3.166%
|
| $8,695,000 | 2031 | Serial | 3.266% | 100 | 3.266%
|
| $48.27 million | 2036 | Term | 3.624% | 100 | 3.624%
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