By Sheri Kasprzak
New York, Oct. 20 - The District of Columbia sold $109.355 million of series 2011B revenue bonds for the Association of American Medical Colleges on Thursday, according to a pricing sheet.
The bonds (/A+/A) were sold through Bank of America Merrill Lynch with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the co-managers.
The bonds are due 2015 to 2031 with term bonds due in 2033, 2036 and 2041. The serial coupons range from 4% to 5%. The 2033 bonds have a 5.5% coupon priced at 102.764. The 2036 bonds have a 5% coupon priced at 96.948 and a 5.25% coupon priced at 100.225. The 2041 bonds have a split maturity with a 5% coupon priced at 96.243 and a 5.25% coupon priced at par.
Proceeds will be used to construct, acquire, equip and furnish a building to house the association's executive offices, member programs, application and testing facilities, information technology and administrative support space.
| Issuer: | District of Columbia/Association of American Medical Colleges
|
| Issue: | Series 2011B revenue bonds
|
| Amount: | $109.355 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | Oct. 20
|
| Settlement date: | Nov. 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.04 million | 2015 | Serial | 4% | 107.609
|
| $2.125 million | 2016 | Serial | 4% | 107.373
|
| $2.225 million | 2017 | Serial | 5% | 112.201
|
| $2.34 million | 2018 | Serial | 5% | 112.269
|
| $2.46 million | 2019 | Serial | 5% | 111.605
|
| $2.57 million | 2020 | Serial | 4% | 103.333
|
| $2.69 million | 2021 | Serial | 5% | 110.878
|
| $2.825 million | 2022 | Serial | 5% | 108.712
|
| $2.955 million | 2023 | Serial | 4% | 98.783
|
| $3.095 million | 2024 | Serial | 5% | 105.103
|
| $3.25 million | 2025 | Serial | 5% | 104.203
|
| $3.41 million | 2026 | Serial | 4.5% | 99.245
|
| $3.565 million | 2027 | Serial | 4.5% | 98.102
|
| $3.73 million | 2028 | Serial | 4.5% | 96.886
|
| $3.91 million | 2029 | Serial | 4.75% | 98.572
|
| $4.1 million | 2030 | Serial | 4.75% | 97.677
|
| $4.3 million | 2031 | Serial | 4.75% | 96.865
|
| $5 million | 2033 | Term | 5.5% | 102.764
|
| $12.675 million | 2036 | Term | 5% | 96.948
|
| $7.5 million | 2036 | Term | 5.25% | 100.225
|
| $17.57 million | 2041 | Term | 5% | 96.243
|
| $15 million | 2041 | Term | 5.25% | 100
|
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