Published on 10/10/2012 in the Prospect News Municipals Daily.
New Issue: Marshall County, Miss., sells $163 million of special obligation bonds
By Sheri Kasprzak
New York, Oct. 10 - The Mississippi Development Bank sold $163 million of series 2012 special obligation bonds for the Marshall County Industrial Development Authority Mississippi Highway Construction Project, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through Raymond James/Morgan Keegan.
The bonds are due 2013 to 2028 with 1% to 5% coupons.
Proceeds will be used to design, construct, acquire rights-of-way, expand, improve and renovate sections of U.S. Interstate 69 eastbound near the Mississippi/Tennessee border.
| Issuer: | Mississippi Development Bank/Marshall County Industrial Development Authority Mississippi Highway Construction Project
|
| Issue: | Series 2012 special obligation bonds
|
| Amount: | $163 million
|
| Type: | Negotiated
|
| Underwriter: | Raymond James/Morgan Keegan (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Oct. 10
|
| Settlement date: | Oct. 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $9.56 million | 2013 | Serial | 2% | 100.282
|
| $7,545,000 | 2014 | Serial | 4% | 104.053
|
| $7,855,000 | 2015 | Serial | 4% | 107.172
|
| $8,175,000 | 2016 | Serial | 4% | 109.952
|
| $4,245,000 | 2017 | Serial | 1% | 100
|
| $4.2 million | 2017 | Serial | 4% | 112.212
|
| $8.77 million | 2018 | Serial | 5% | 119.146
|
| $3.13 million | 2019 | Serial | 3% | 109.358
|
| $6,055,000 | 2019 | Serial | 5% | 121.13
|
| $5.15 million | 2020 | Serial | 2.5% | 105.167
|
| $4.41 million | 2020 | Serial | 5% | 121.949
|
| $9,985,000 | 2021 | Serial | 5% | 122.666
|
| $4,975,000 | 2022 | Serial | 2% | 98.346
|
| $5,455,000 | 2022 | Serial | 5% | 123.126
|
| $4.1 million | 2023 | Serial | 2.5% | 101.063
|
| $6,725,000 | 2023 | Serial | 5% | 121.551
|
| $11,325,000 | 2024 | Serial | 5% | 120.636
|
| $11,905,000 | 2025 | Serial | 5% | 119.91
|
| $12.52 million | 2026 | Serial | 5% | 119.099
|
| $13.16 million | 2027 | Serial | 5% | 118.384
|
| $6,915,000 | 2028 | Serial | 3% | 98.437
|
| $6.85 million | 2028 | Serial | 5% | 117.851
|
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