Published on 8/27/2015 in the Prospect News Municipals Daily.
New Issue: Kentucky Economic Development sells $232.84 million revenue bonds
By Sheri Kasprzak
New York, Aug. 27 – The Kentucky Economic Development Finance Authority sold $232.84 million of series 2015A senior revenue bonds for the Next Generation Kentucky Information Highway, said a pricing sheet.
The bonds were sold through Barclays and BofA Merrill Lynch.
The bonds are due 2019 to 2033 with term bonds due in 2035, 2037, 2040 and 2045. The serial coupons range from 2.5% to 5%. The 2035 bonds have a 4.25% coupon and priced at 96.611, the 2037 bonds have a 5% coupon and priced at 104.764, the 2040 bonds have a 5% coupon and priced at 104.033, and the 2045 bonds have a 5% coupon and priced at 103.467.
Proceeds will be used to finance the construction and implementation of the Next Generation Kentucky Information Highway system, a global information system of multiple, interconnected computer networks.
| Issuer: | Kentucky Economic Development Finance Authority/Next Generation Kentucky Information Highway
|
| Issue: | Series 2015A senior revenue bonds
|
| Amount: | $232.84 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays and BofA Merrill Lynch
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $805,000 | 2019 | Serial | 2.5% | 101.536
|
| $1.37 million | 2020 | Serial | 5% | 111.637
|
| $1.52 million | 2021 | Serial | 5% | 111.693
|
| $1,885,000 | 2022 | Serial | 5% | 111.803
|
| $2.29 million | 2023 | Serial | 3.25% | 99.928
|
| $2.71 million | 2024 | Serial | 3.5% | 100.526
|
| $3.17 million | 2025 | Serial | 5% | 111.761
|
| $3,735,000 | 2026 | Serial | 5% | 110.147
|
| $4,285,000 | 2027 | Serial | 5% | 109.371
|
| $4,875,000 | 2028 | Serial | 5% | 108.601
|
| $5.48 million | 2029 | Serial | 4% | 97.914
|
| $6,115,000 | 2030 | Serial | 5% | 107.248
|
| $6,865,000 | 2031 | Serial | 4% | 95.91
|
| $7.6 million | 2032 | Serial | 5% | 106.163
|
| $8.4 million | 2033 | Serial | 5% | 105.75
|
| $19,355,000 | 2035 | Term | 4.25% | 96.611
|
| $23,015,000 | 2037 | Term | 5% | 104.764
|
| $42,785,000 | 2040 | Term | 5% | 104.033
|
| $86.58 million | 2045 | Term | 5% | 103.467
|
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