By Sheri Kasprzak
New York, Nov. 20 - Anchorage, Alaska, priced $89.84 million in series 2008 general obligation bonds on Thursday, said Richard Whitehead, debt officer for the municipality.
The sale included $60 million in series 2008A general purpose G.O.s and $29.84 million in series 2008B school G.O.s.
The bonds (/AA/AA) were sold through lead manager Merrill Lynch & Co. Co-managers were Morgan Stanley & Co., Citigroup Global Markets, J.P. Morgan Securities Inc., Goldman, Sachs & Co., Seattle-Northwest Securities Corp. and Siebert Brandford Shank & Co.
The 2008A bonds are due from 2009 to 2028 with coupons from 4% to 5.125% and yields from 1.42% to 5.3%.
The 2008B bonds are due from 2009 to 2028 with coupons from 3% to 5.25% and yields from 1.42% to 5.3%.
Proceeds will be used for general capital improvements, including improvements to roads, drainage systems, parks, schools and a public pool.
| Issuer: | Anchorage, Alaska
|
| Issue: | Series 2008 general obligation bonds
|
| Amount: | $89.84 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch & Co. (lead), Morgan Stanley & Co., Citigroup Global Markets, J.P. Morgan Securities Inc., Goldman, Sachs & Co., Seattle-Northwest Securities Corp. and Siebert Brandford Shank & Co. (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Nov. 20
|
|
|
| 2008A bonds
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 1.42%
|
| 2010 | Serial | 4% | 2.37%
|
| 2011 | Serial | 4.5% | 2.69%
|
| 2012 | Serial | 4% | 3.07%
|
| 2013 | Serial | 5% | 3.30%
|
| 2014 | Serial | 5% | 3.47%
|
| 2015 | Serial | 4% | 3.65%
|
| 2016 | Serial | 5% | 3.86%
|
| 2017 | Serial | 4.25% | 4.08%
|
| 2018 | Serial | 4.5% | 4.28%
|
| 2019 | Serial | 5% | 4.49%
|
| 2020 | Serial | 5% | 4.70%
|
| 2021 | Serial | 5% | 4.83%
|
| 2022 | Serial | 5% | 4.94%
|
| 2023 | Serial | 5% | 5.00%
|
| 2024 | Serial | 5% | 5.08%
|
| 2025 | Serial | 5% | 5.15%
|
| 2026 | Serial | 5% | 5.21%
|
| 2027 | Serial | 5.125% | 5.26%
|
| 2028 | Serial | 5.125% | 5.30%
|
|
|
| 2008B bonds
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 1.42%
|
| 2010 | Serial | 3.25% | 2.37%
|
| 2011 | Serial | 3.5% | 2.69%
|
| 2012 | Serial | 5% | 3.07%
|
| 2013 | Serial | 4% | 3.30%
|
| 2014 | Serial | 4% | 3.47%
|
| 2015 | Serial | 5% | 3.65%
|
| 2016 | Serial | 4% | 3.86%
|
| 2017 | Serial | 5% | 4.08%
|
| 2018 | Serial | 5% | 4.28%
|
| 2019 | Serial | 4.5% | 4.49%
|
| 2020 | Serial | 5% | 4.70%
|
| 2021 | Serial | 5.25% | 4.83%
|
| 2022 | Serial | 5% | 4.94%
|
| 2023 | Serial | 5% | 5.00%
|
| 2024 | Serial | 5% | 5.08%
|
| 2025 | Serial | 5% | 5.15%
|
| 2026 | Serial | 5.125% | 5.21%
|
| 2027 | Serial | 5% | 5.26%
|
| 2028 | Serial | 5.25% | 5.30%
|
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