New Issue: Atlanta Development Authority sells $224.32 million of stadium bonds

By Sheri Kasprzak

New York, May 7 – The Atlanta Development Authority sold $224,315,000 of series 2015 new downtown stadium project revenue bonds, said a pricing sheet.

The deal included $167.53 million of series 2015A-1 senior-lien bonds (Aa3/A+/), $16.4 million of series 2015A-2 senior-lien bonds (Aa3/A+/) and $40,385,000 of series 2015B second-lien bonds (A1/A/).

The bonds were sold through Citigroup Global Markets Inc.

The 2015A-1 bonds are due 2021 to 2035 with term bonds due in 2040 and 2044. The serial bonds have 5% coupons. The 2040 bonds have a 5.25% coupon and priced at 112.351, and the 2044 bonds have a 5.25% coupon and priced at 111.904.

The 2015A-2 bonds are due 2017 to 2021, have 1.41% to 2.922% coupons and all priced at par.

The 2015B bonds are due 2017 to 2030 with term bonds due in 2035, 2040 and 2044. The serial coupons range from 3% to 5%. The 2035 bonds have a 4% coupon and priced at 98.299, the 2040 bonds have a 4% coupon and priced at 96.76, and the 2044 bonds have a 5% coupon and priced at 107.818.

Proceeds will be used to finance the construction of a new soccer stadium in downtown Atlanta.

Issuer:	Atlanta Development Authority
Issue:	Series 2015 new downtown stadium project revenue bonds
Amount:	$224,315,000
Type:	Negotiated
Underwriters:	Citigroup Global Markets Inc. (lead), PNC Capital Markets LLC, SunTrust Robinson Humphrey, Castle Oak Securities LP, Fidelity Capital Markets Inc., IFS Securities, Mesirow Financial Inc., Rice Financial Products Co. and Security Capital Brokerage Inc. (co-managers)
Pricing date:	May 7
Settlement date:	May 18
$167.53 million series 2015A-1 senior-lien bonds (Aa3/A+/)
Amount	Maturity	Type	Coupon	Price
$1.63 million	2021	Serial	5%	116.757
$3,985,000	2022	Serial	5%	117.42
$4.18 million	2023	Serial	5%	117.783
$4.39 million	2024	Serial	5%	118.038
$4.61 million	2025	Serial	5%	118.589
$4.84 million	2026	Serial	5%	117.055
$5,085,000	2027	Serial	5%	115.639
$5,335,000	2028	Serial	5%	114.428
$5,605,000	2029	Serial	5%	113.599
$5,885,000	2030	Serial	5%	112.958
$6.18 million	2031	Serial	5%	112.323
$6,485,000	2032	Serial	5%	111.781
$6.81 million	2033	Serial	5%	111.153
$7.15 million	2034	Serial	5%	110.797
$7.51 million	2035	Serial	5%	110.441
$43.79 million	2040	Term	5.25%	112.351
$44.06 million	2044	Term	5.25%	111.904
$16.4 million series 2015A-2 senior-lien bonds (Aa3/A+/)
Amount	Maturity	Type	Coupon	Price
$3.63 million	2017	Serial	1.41%	100
$3,675,000	2018	Serial	1.854%	100
$3,735,000	2019	Serial	2.318%	100
$3,815,000	2020	Serial	2.518%	100
$1,545,000	2021	Serial	2.922%	100
$40,385,000 series 2015B second-lien bonds (A1/A/)
Amount	Maturity	Type	Coupon	Price
$770,000	2017	Serial	4%	106.319
$805,000	2018	Serial	5%	110.982
$840,000	2019	Serial	5%	113.201
$880,000	2020	Serial	5%	114.58
$930,000	2021	Serial	5%	115.39
$970,000	2022	Serial	5%	115.997
$1,025,000	2023	Serial	5%	116.191
$1,075,000	2024	Serial	5%	116.544
$1.13 million	2025	Serial	5%	117.15
$1,185,000	2026	Serial	3%	97.133
$1.22 million	2027	Serial	3.25%	97.642
$1.26 million	2028	Serial	3.375%	97.049
$1.3 million	2029	Serial	3.5%	97.383
$1,345,000	2030	Serial	3.5%	96.459
$7.56 million	2035	Term	4%	98.299
$9.19 million	2040	Term	4%	96.76
$8.9 million	2044	Term	5%	107.818

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