New Issue: Indianapolis Local Public Improvement Bond Bank downsizes deal to $35.035 million

By Sheri Kasprzak

New York, March 24 - The Indianapolis Local Public Improvement Bond Bank priced $35.035 million of series 2011D bonds on Thursday, downsized from $57.235 million, said a pricing sheet.

The bonds (Aa3/AA-/) were sold through City Securities Corp. with Loop Capital Markets LLC, Raymond James & Associates Inc. and Wells Fargo Securities LLC as the co-managers.

The bonds are due 2013 to 2021 with coupons from 2% to 5%.

Proceeds will be used to fund the bond bank's 2011 refunding plan.

Issuer:	Indianapolis Local Public Improvement Bond Bank
Issue:	Series 2011D bonds
Amount:	$35.035 million
Type:	Negotiated
Underwriters:	City Securities Corp. (lead), Loop Capital Markets LLC, Raymond James & Associates Inc. and Wells Fargo Securities LLC (co-managers)
Ratings:	Moody's: Aa3
	Standard & Poor's: AA-
Pricing date:	March 24
Settlement date:	April 20
Amount	Maturity	Type	Coupon	Price
$1.15 million	2013	Serial	2%	101.119
$2.135 million	2013	Serial	4%	105.267
$330,000	2014	Serial	2%	100.36
$3.1 million	2014	Serial	5%	109.391
$1.45 million	2015	Serial	2.5%	100.583
$2.14 million	2015	Serial	4%	106.432
$3.71 million	2016	Serial	3%	101.613
$3.82 million	2017	Serial	5%	111.388
$250,000	2018	Serial	4%	104.661
$3.76 million	2018	Serial	5%	110.964
$4.21 million	2019	Serial	4%	103.359
$4.38 million	2020	Serial	5%	109.489
$4.6 million	2021	Serial	5%	108.247

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