Published on 9/11/2012 in the Prospect News Municipals Daily.
New Issue: Anchorage prices $92.32 million of its G.O. and G.O. refunding bonds
By Sheri Kasprzak
New York, Sept. 11 - The Municipality of Anchorage, Alaska, sold $92,315,000 of series 2012 general obligation bonds, according to a pricing sheet.
The bonds (/AA+/AA+) were sold through senior manager Wells Fargo Securities LLC. The co-managers were Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and KeyBanc Capital Markets Inc.
The deal included $23.58 million of series 2012A general purpose G.O. bonds, $30.22 million of series 2012B general purpose G.O. refunding bonds, $14.43 million of series 2012C school G.O. bonds and $24,085,000 of series 2012D school G.O. refunding bonds.
The 2012A bonds are due 2014 to 2032 with 2% to 5% coupons. The 2012B bonds are due 2013 to 2018 with coupons from 2% to 5%. The 2012C bonds are due 2013 to 2032 with 2% to 5% coupons. The 2012D bonds are due 2013 to 2015 with coupons from 2% to 5%.
Proceeds will be used to finance capital improvements within the city and schools, as well as to refund existing G.O. debt.
| Issuer: | Municipality of Anchorage, Alaska
|
| Issue: | Series 2012 general obligation and G.O. refunding bonds
|
| Amount: | $92,315,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and KeyBanc Capital Markets Inc. (co-managers)
|
| Ratings: | Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 25
|
|
|
| $23.58 million series 2012A general purpose G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $855,000 | 2014 | Serial | 2% | 103.039
|
| $875,000 | 2015 | Serial | 2% | 104.326
|
| $890,000 | 2016 | Serial | 2% | 105.124
|
| $910,000 | 2017 | Serial | 3% | 110.043
|
| $940,000 | 2018 | Serial | 4% | 116.016
|
| $975,000 | 2019 | Serial | 5% | 122.921
|
| $1,025,000 | 2020 | Serial | 5% | 123.821
|
| $1,075,000 | 2021 | Serial | 5% | 124.863
|
| $1.13 million | 2022 | Serial | 5% | 126.086
|
| $1,185,000 | 2023 | Serial | 5% | 124.571
|
| $1,245,000 | 2024 | Serial | 5% | 123.574
|
| $1,305,000 | 2025 | Serial | 5% | 122.684
|
| $1.37 million | 2026 | Serial | 5% | 122.389
|
| $1.44 million | 2027 | Serial | 5% | 121.802
|
| $1.51 million | 2028 | Serial | 5% | 121.218
|
| $1.59 million | 2029 | Serial | 5% | 120.444
|
| $1.67 million | 2030 | Serial | 5% | 119.772
|
| $1.75 million | 2031 | Serial | 5% | 119.2
|
| $1.84 million | 2032 | Serial | 5% | 118.82
|
|
|
| $30.22 million series 2012B general purpose G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $8 million | 2013 | Serial | 2% | NRO
|
| $500,000 | 2014 | Serial | 3% | 104.882
|
| $4.5 million | 2014 | Serial | 5% | 108.566
|
| $1 million | 2015 | Serial | 4% | 109.981
|
| $7,425,000 | 2015 | Serial | 5% | 112.808
|
| $1.92 million | 2016 | Serial | 5% | 116.512
|
| $2.33 million | 2017 | Serial | 5% | 119.518
|
| $4,545,000 | 2018 | Serial | 5% | 121.656
|
|
|
| $14.43 million series 2012C school G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $615,000 | 2013 | Serial | 2% | NRO
|
| $555,000 | 2014 | Serial | 2% | 103.039
|
| $570,000 | 2015 | Serial | 2% | 104.326
|
| $580,000 | 2016 | Serial | 3% | 108.92
|
| $595,000 | 2017 | Serial | 3% | 110.043
|
| $615,000 | 2018 | Serial | 4% | 116.016
|
| $640,000 | 2019 | Serial | 3% | 109.934
|
| $660,000 | 2020 | Serial | 2% | 101.899
|
| $670,000 | 2021 | Serial | 2% | 100.565
|
| $685,000 | 2022 | Serial | 2% | 99.466
|
| $700,000 | 2023 | Serial | 3% | 105.684
|
| $720,000 | 2024 | Serial | 3% | 104.428
|
| $740,000 | 2025 | Serial | 4% | 112.279
|
| $770,000 | 2026 | Serial | 4% | 111.279
|
| $800,000 | 2027 | Serial | 4% | 110.264
|
| $835,000 | 2028 | Serial | 4% | 109.273
|
| $865,000 | 2029 | Serial | 4% | 108.381
|
| $900,000 | 2030 | Serial | 4% | 107.762
|
| $940,000 | 2031 | Serial | 4% | 107.234
|
| $975,000 | 2032 | Serial | 5% | 118.82
|
|
|
| $24,085,000 series 2012D school G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $15,265,000 | 2013 | Serial | 2% | NRO
|
| $4.29 million | 2014 | Serial | 5% | 108.566
|
| $4.53 million | 2015 | Serial | 5% | 112.808
|
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