By Sheri Kasprzak
New York, June 9 - The Memphis-Shelby County Airport Authority of Tennessee priced $80.81 million of series 2011 refunding revenue bonds, said a pricing sheet.
The bonds (A2/A-/A+) were sold through senior manager Morgan Keegan & Co. Inc. with Cabrera Capital Markets LLC, J.P. Morgan Securities LLC and Duncan-Williams Inc. as the co-managers.
The offering included $17.6 million of series 2011B AMT bonds, $22.04 million of series 2011C AMT bonds and $41.17 million of series 2011D non-AMT bonds.
The 2011B bonds are due 2022 to 2025 with 4.5% to 5.25% coupons. The 2011C bonds are due 2018 to 2021 with 5% coupons. The 2011D bonds are due 2021 to 2026 with coupons from 4.5% to 5%.
Proceeds will be used to refund the authority's series 1999D and 2001A-B bonds.
| Issuer: | Memphis-Shelby County Airport Authority
|
| Issue: | Series 2011 refunding revenue bonds
|
| Amount: | $80.81 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. (lead), Cabrera Capital Markets LLC, J.P. Morgan Securities LLC and Duncan-Williams Inc. (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Pricing date: | June 9
|
| Settlement date: | June 22
|
|
|
| $17.6 million series 2011B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.985 million | 2022 | Serial | 4.5% | 98.293
|
| $3.565 million | 2023 | Serial | 4.75% | 98.826
|
| $1.4 million | 2023 | Serial | 5.25% | 103.518
|
| $5.2 million | 2024 | Serial | 4.75% | 97.439
|
| $5.45 million | 2025 | Serial | 5% | 98.709
|
|
|
| $22.04 million series 2011C bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.7 million | 2018 | Serial | 5% | 107.336
|
| $6.135 million | 2019 | Serial | 5% | 106.1
|
| $6.44 million | 2020 | Serial | 5% | 104.884
|
| $6.765 million | 2021 | Serial | 5% | 103.833
|
|
|
| $41.17 million series 2011D bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.42 million | 2021 | Serial | 5% | 109.75
|
| $7.645 million | 2022 | Serial | 5% | 108.843
|
| $6.975 million | 2023 | Serial | 4% | 98.218
|
| $1.05 million | 2023 | Serial | 5% | 107.883
|
| $8.36 million | 2024 | Serial | 5% | 106.718
|
| $8.78 million | 2025 | Serial | 5% | 105.691
|
| $5.94 million | 2026 | Serial | 4.5% | 98.815
|
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