By Sheri Kasprzak
New York, May 4 - The Mobile Downtown Redevelopment Authority of Alabama priced $225 million of series 2011 Gulf Opportunity Zone revenue bonds for Austal USA LLC, according to an official statement.
The sale included $112.5 million of series 2011A bonds and $112.5 million of series 2011B bonds.
The bonds were sold through Merrill Lynch and Thornton Farish Inc.
Both bonds are due May 1, 2041, and both bear interest at the weekly rate.
Proceeds will be used to finance the construction and equipment of a modular manufacturing facility for Austal's shipbuilding operations.
| Issuer: | Mobile Downtown Redevelopment Authority/Austal USA LLC
|
| Issue: | Series 2011 Gulf Opportunity Zone revenue bonds
|
| Amount: | $225 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch and Thornton Farish Inc.
|
| Pricing date: | May 3
|
| Settlement date: | May 4
|
|
|
| $112.5 million series 2011A
|
| Maturity | Type | Coupon | Price
|
| May 1, 2041 | Term | Weekly | 100
|
|
|
| $112.5 million series 2011B
|
| Maturity | Type | Coupon | Price
|
| May 1, 2041 | Term | Weekly | 100
|
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