Published on 3/14/2014 in the Prospect News Municipals Daily.
New Issue: North Slope Borough, Alaska, sells $62.2 million water, wastewater debt
By Sheri Kasprzak
New York, March 14 - The North Slope Borough of Alaska sold $62.2 million of series 2014 Service Area 10 water and wastewater facilities revenue bonds, according to a pricing sheet.
The bonds were sold through KeyBanc Capital Markets LLC.
The bonds are due 2016 to 2029 with term bonds due in 2034. The serial coupons range from 3% to 5.25% with 0.68% to 4.14% yields. The 2034 bonds have a 4% coupon priced at 92.137 to yield 4.6%, a 4.5% coupon priced at 98.684 to yield 4.6% and a 5.25% coupon priced at 105.63 to yield 4.33%.
Proceeds will be used to finance the construction, equipment, renovation and improvement of water and wastewater facilities in Service Area 10, as well as to fund maintenance and operations.
| Issuer: | North Slope Borough, Alaska
|
| Issue: | Series 2014 Service Area 10 water and wastewater facilities revenue bonds
|
| Amount: | $62.2 million
|
| Type: | Negotiated
|
| Underwriter: | KeyBanc Capital Markets LLC (lead)
|
| Pricing date: | March 13
|
| Settlement date: | March 20
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,135,000 | 2016 | Serial | 3% | 105.234 | 0.68%
|
| $2.2 million | 2017 | Serial | 3% | 106.299 | 1.04%
|
| $2,265,000 | 2018 | Serial | 4% | 110.538 | 1.45%
|
| $2.36 million | 2019 | Serial | 5% | 115.985 | 1.81%
|
| $2,475,000 | 2020 | Serial | 5% | 116.012 | 2.25%
|
| $2.6 million | 2021 | Serial | 5% | 115.373 | 2.64%
|
| $2.73 million | 2022 | Serial | 5% | 112.786 | 3.01%
|
| $2,865,000 | 2023 | Serial | 5% | 111.349 | 3.22%
|
| $3.01 million | 2024 | Serial | 5% | 110.201 | 3.39%
|
| $3.16 million | 2025 | Serial | 5% | 109.398 | 3.51%
|
| $3.32 million | 2026 | Serial | 5.25% | 111.178 | 3.48%
|
| $3.49 million | 2027 | Serial | 5.25% | 110.441 | 3.59%
|
| $3,675,000 | 2028 | Serial | 5.25% | 109.842 | 3.68%
|
| $3.87 million | 2029 | Serial | 4% | 98.421 | 4.14%
|
| $8.09 million | 2034 | Term | 4% | 92.137 | 4.6%
|
| $5,945,000 | 2034 | Term | 4.5% | 98.684 | 4.6%
|
| $8.01 million | 2034 | Term | 5.25% | 105.63 | 4.33%
|
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