By Sheri Kasprzak
New York, Feb. 24 - The Indianapolis Local Public Improvement Bond Bank priced $466.66 million of series 2010B bonds, said a pricing sheet.
The deal included $91.035 million of series 2010B-1 bonds and $375.625 million of series 2010B-2 Build America Bonds.
The bonds (Aa2/AA+/AA) were sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-lead for the 2010B-2 bonds was J.P. Morgan Securities Inc. The co-managers were Backstrom McCarley Berry & Co. Inc., Cabrera Capital Markets LLC, City Securities Corp., Loop Capital Markets LLC, Morgan Keegan & Co. Inc. and PNC Capital Markets LLC.
The 2010B-1 bonds are due 2013 to 2023 with 1.1% to 3.65% yields. The series 2010B-2 bonds are due 2030 and 2040. The 2030 bonds have a 5.966% coupon, priced at par, and the 2040 bonds have a 6.116% coupon, also priced at par.
Proceeds will be used to construct a replacement hospital for Wishard Hospital.
| Issuer: | Indianapolis Local Public Improvement Bond Bank
|
| Issue: | Series 2010B bonds
|
| Amount: | $466.66 million
|
| Maturities: | 2013 to 2023 (for 2010B-1)
|
| Yields: | 1.1% to 3.65% (for 2010B-1)
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead); J.P. Morgan Securities Inc. (co-lead for 2010B-2 bonds); Backstrom McCarley Berry & Co. Inc., Cabrera Capital Markets LLC, City Securities Corp., Loop Capital Markets LLC, Morgan Keegan & Co. Inc. and PNC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA
|
| Pricing date: | Feb. 24
|
|
|
| Series 2010B-2
|
| Maturity | Type | Coupon | Price
|
| 2030 | Term | 5.966% | 100
|
| 2040 | Term | 6.116% | 100
|
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