Published on 12/13/2011 in the Prospect News Municipals Daily.
New Issue: Tuscaloosa County IDA, Ala., sells $162 million Gulf Opportunity bonds
By Sheri Kasprzak
New York, Dec. 13 - The Tuscaloosa County Industrial Development Authority priced $162 million of series 2011 variable-rate Gulf Opportunity Zone bonds for the Hunt Refining project, according to a pricing sheet.
The deal included $50 million of series 2011G bonds, $25 million of series 2011H bonds, $12 million of series 2011I bonds, $50 million of series 2011J bonds and $25 million of series 2011K bonds.
All of the bonds (Aa1/VMIG1) are due April 1, 2028, and all bear interest in the variable-rate mode.
Proceeds will be used to construct, equip and install an expansion to an existing crude oil refinery located on private property in the county operated by the Hunt Refining Co.
| Issuer: | Tuscaloosa County Industrial Development Authority
|
| Issue: | Series 2011 variable-rate Gulf Opportunity Zone bonds
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| Amount: | $162 million
|
| Rating: | Moody's: Aa1/VMIG1
|
| Pricing date: | Dec. 13
|
|
|
| $50 million series 2011G bonds
|
| Maturity | Type | Coupon | Price
|
| April 1, 2028 | Term | Variable | 100
|
|
|
| $25 million series 2011H bonds
|
| Maturity | Type | Coupon | Price
|
| April 1, 2028 | Term | Variable | 100
|
|
|
| $12 million series 2011I bonds
|
| Maturity | Type | Coupon | Price
|
| April 1, 2028 | Term | Variable | 100
|
|
|
| $50 million series 2011J bonds
|
| Maturity | Type | Coupon | Price
|
| April 1, 2028 | Term | Variable | 100
|
|
|
| $25 million series 2011K bonds
|
| Maturity | Type | Coupon | Price
|
| April 1, 2028 | Term | Variable | 100
|
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