Published on 12/24/2013 in the Prospect News Municipals Daily.
New Issue: Williamstown, Ky., brings $62 million Crosswater Canyon revenue bonds
By Sheri Kasprzak
New York, Dec. 24 - The City of Williamstown, Ky., sold $62 million of series 2013 taxable industrial building revenue bonds for the Crosswater Canyon Inc., according to an official statement.
The bonds were sold through Ross, Sinclaire & Associates LLC.
The bonds are due in 2020, 2022, 2024 and 2028. The 2020 bonds have a 5.25% coupon, the 2022 bonds have a 5.5% coupon, the 2024 bonds have a 5.625% coupon, and the 2028 bonds have a 6% coupon, all priced at par.
Proceeds will be used to finance a loan to the corporation and Ark Encounter LLC to construct, acquire, equip and install the initial phase of a biblically themed education and entertainment theme park, including a replica of Noah's Ark, in the city.
| Issuer: | Williamstown, Ky./Crosswater Canyon Inc.
|
| Issue: | Series 2013 taxable industrial building revenue bonds
|
| Amount: | $62 million
|
| Type: | Negotiated
|
| Underwriter: | Ross, Sinclaire & Associates
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.75 million | 2020 | Term | 5.25% | 100
|
| $8.25 million | 2020 | Term | 5.25% | 100
|
| $1.35 million | 2022 | Term | 5.5% | 100
|
| $9,055,000 | 2022 | Term | 5.5% | 100
|
| $1,255,000 | 2024 | Term | 5.625% | 100
|
| $12,545,000 | 2024 | Term | 5.625% | 100
|
| $2,135,000 | 2028 | Term | 6% | 100
|
| $21.66 million | 2028 | Term | 6% | 100
|
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