Published on 5/26/2011 in the Prospect News Municipals Daily.
New Issue: Anchorage, Alaska, prices $61.64 million of G.O. bonds
By Sheri Kasprzak
New York, May 26 - The Municipality of Anchorage, Alaska., sold $61.64 million of series 2011 general obligation bonds, said a pricing sheet.
The bonds (//AA+) were sold through senior manager Bank of America Merrill Lynch.
The offering included $28.39 million of series 2011A general purpose G.O. bonds, $4.94 million of series 2011B schools G.O. bonds and $28.31 million of series 2011C refunding schools G.O. bonds.
The 2011A bonds are due 2012 to 2031 with 2% to 4.125% coupons. The 2011B bonds are due 2012 to 2021 with 2% to 3% coupons. The 2011C bonds are due 2012 to 2013 with term bonds due in 2016, 2018 and 2020. The serial coupons range from 3% to 4%. The 2016 bonds have a 5% coupon priced at 117.372, and the 2018 bonds have a 4% coupon priced at 111.348. The 2020 bonds have a 4% coupon priced at 109.703.
Proceeds will be used to finance general capital needs and public school improvements as well as to refund existing school debt.
| Issuer: | Anchorage, Alaska
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $61.64 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Rating: | Fitch: AA+
|
| Pricing date: | May 26
|
| Settlement date: | June 9
|
|
|
| $28.39 million series 2011A general purpose G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $855,000 | 2012 | Serial | 2% | 101.093
|
| $1.03 million | 2013 | Serial | 2% | 102.353
|
| $1.055 million | 2014 | Serial | 3% | 105.555
|
| $1.09 million | 2015 | Serial | 4% | 109.803
|
| $1.13 million | 2016 | Serial | 3% | 106.936
|
| $1.17 million | 2017 | Serial | 4% | 111.414
|
| $1.215 million | 2018 | Serial | 3% | 104.855
|
| $1.255 million | 2019 | Serial | 4% | 110.376
|
| $1.305 million | 2020 | Serial | 4% | 109.717
|
| $1.36 million | 2021 | Serial | 4% | 108.93
|
| $1.415 million | 2022 | Serial | 4% | 106.504
|
| $1.47 million | 2023 | Serial | 3.5% | 100.895
|
| $1.525 million | 2024 | Serial | 3.5% | 99.188
|
| $1.58 million | 2025 | Serial | 4% | 101.679
|
| $1.645 million | 2026 | Serial | 4% | 100.633
|
| $1.71 million | 2027 | Serial | 4% | 99.765
|
| $1.78 million | 2028 | Serial | 4% | 98.679
|
| $1.855 million | 2029 | Serial | 4% | 97.52
|
| $1.93 million | 2030 | Serial | 4.125% | 97.892
|
| $2.015 million | 2031 | Serial | 4.125% | 96.659
|
|
|
| $4.94 million series 2011B school G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $450,000 | 2012 | Serial | 2% | 101.94
|
| $460,000 | 2013 | Serial | 2% | 102.934
|
| $465,000 | 2014 | Serial | 2% | 103.276
|
| $475,000 | 2015 | Serial | 2% | 102.773
|
| $485,000 | 2016 | Serial | 2% | 102.565
|
| $495,000 | 2017 | Serial | 2.25% | 101.961
|
| $505,000 | 2018 | Serial | 2.5% | 101.507
|
| $520,000 | 2019 | Serial | 2.75% | 101.387
|
| $535,000 | 2020 | Serial | 3% | 101.682
|
| $550,000 | 2021 | Serial | 3% | 100.084
|
|
|
| $28.31 million series 2011C school refunding G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $9.585 million | 2012 | Serial | 3% | 103.082
|
| $10.05 million | 2013 | Serial | 4% | 107.188
|
| $5.83 million | 2016 | Term | 5% | 117.372
|
| $2.01 million | 2018 | Term | 4% | 111.348
|
| $1.285 million | 2020 | Term | 4% | 109.703
|
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