Published on 8/28/2013 in the Prospect News Municipals Daily.
New Issue: Maine Municipal Bond Bank sells $220.66 million of liquor revenue bonds
By Sheri Kasprzak
New York, Aug. 28 - The Maine Municipal Bond Bank priced $220.66 million of series 2013 taxable liquor operation revenue bonds, according to a pricing sheet.
The bonds (A1/A+/) were sold through Wells Fargo Securities LLC and BofA Merrill Lynch.
The bonds are due 2015 to 2024 with 1.068% to 4.352% coupons all priced at par.
Proceeds will be used to make payments to Maine health care providers under the MaineCare program.
| Issuer: | Maine Municipal Bond Bank
|
| Issue: | Series 2013 taxable liquor operation revenue bonds
|
| Amount: | $220.66 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and BofA Merrill Lynch (lead), J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Raymond James/Morgan Keegan (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $19.66 million | 2015 | Serial | 1.068% | 100
|
| $19.87 million | 2016 | Serial | 1.708% | 100
|
| $20.21 million | 2017 | Serial | 2.404% | 100
|
| $20,695,000 | 2018 | Serial | 2.904% | 100
|
| $21,295,000 | 2019 | Serial | 3.368% | 100
|
| $22,015,000 | 2020 | Serial | 3.668% | 100
|
| $22.82 million | 2021 | Serial | 3.852% | 100
|
| $23.7 million | 2022 | Serial | 4.102% | 100
|
| $24,675,000 | 2023 | Serial | 4.252% | 100
|
| $25.72 million | 2024 | Serial | 4.352% | 100
|
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