Published on 12/12/2013 in the Prospect News Municipals Daily.
New Issue: Indiana Bond Bank brings $84.28 million taxable severance funding bonds
By Sheri Kasprzak
New York, Dec. 12 - The Indiana Bond Bank sold $84.28 million of series 2013C taxable school severance funding refunding bonds, according to a pricing sheet.
The bonds (/AA+/) were sold through lead managers City Securities Corp. and Raymond James/Morgan Keegan.
The bonds are due 2014 to 2020 with term bonds due in 2021, 2022, 2023, 2024, 2025 and 2026. The serial coupons range from 0.15% to 2.934% all priced at par. The 2021 bonds have a 3.339% coupon, and the 2022 bonds have a 3.589% coupon. The 2024 bonds have a 4.009% coupon, the 2025 bonds have a 4.209% coupon, and the 2026 bonds have a 4.339% coupon, all priced at par.
Proceeds will be used to refund the bond bank's series 8A-B and series 9 school severance funding bonds.
| Issuer: | Indiana Bond Bank
|
| Issue: | Series 2013C taxable school severance funding refunding bonds
|
| Amount: | $84.28 million
|
| Type: | Negotiated
|
| Underwriters: | City Securities Corp. and Raymond James/Morgan Keegan (lead)
|
| Ratings: | Standard & Poor's: AA+
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,235,000 | 2014 | Serial | 0.15% | 100
|
| $4,655,000 | 2014 | Serial | 0.279% | 100
|
| $4,665,000 | 2015 | Serial | 0.489% | 100
|
| $4,685,000 | 2015 | Serial | 0.589% | 100
|
| $4.73 million | 2016 | Serial | 0.919% | 100
|
| $4,675,000 | 2016 | Serial | 1.069% | 100
|
| $4.66 million | 2017 | Serial | 1.689% | 100
|
| $4.09 million | 2017 | Serial | 1.839% | 100
|
| $4.08 million | 2018 | Serial | 2.039% | 100
|
| $4.08 million | 2018 | Serial | 2.139% | 100
|
| $4,095,000 | 2019 | Serial | 2.634% | 100
|
| $4.11 million | 2019 | Serial | 2.734% | 100
|
| $4,105,000 | 2020 | Serial | 2.934% | 100
|
| $4,895,000 | 2021 | Term | 3.339% | 100
|
| $5.03 million | 2022 | Term | 3.589% | 100
|
| $5.15 million | 2023 | Term | 3.839% | 100
|
| $5,135,000 | 2024 | Term | 4.009% | 100
|
| $4.39 million | 2025 | Term | 4.209% | 100
|
| $1,815,000 | 2026 | Term | 4.339% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
