By Sheri Kasprzak
New York, April 10 - The Industrial Development Authority of the City of Alexandria in Virginia priced $64 million in series 2008 variable-rate headquarters facilities revenue bonds on Thursday, an official statement said. The bonds were sold for the American Society for Clinical Oncology.
The offering includes $15.95 million in series 2008A taxable bonds due Oct. 1, 2023 and $48.05 million in series 2008B tax-exempt bonds due Oct. 1, 2043.
The bonds (Aa2/AA-/) will initially bear interest at the weekly rate with a 12% maximum rate. A call seeking the initial coupon was not immediately returned Thursday.
Shattuck Hammond Partners was the lead manager for the negotiated deal.
Proceeds will be used for the construction, acquisition or equipment of a condominium unit and parking facilities, as well as for the furnishings and fixtures connected to the unit.
| Issuer: | Industrial Development Authority of the City of Alexandria/ American Society for Clinical Oncology
|
| Issue: | Series 2008 headquarters facilities revenue bonds
|
| Amount: | $64 million
|
| Type: | Negotiated
|
| Maturity: | Oct. 1, 2023 for series 2008A bonds; Oct. 1, 2043 for series 2008B bonds
|
| Coupon: | Weekly rate (maximum of 12%)
|
| Price: | Par
|
| Underwriter: | Shattuck Hammond Partners
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | April 10
|
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