New Issue: Memphis-Shelby County Airport Authority, Tenn., sells $111 million refunding bonds

By Sheri Kasprzak

New York, Feb. 10 - The Memphis-Shelby County Airport Authority of Tennessee sold $111 million of series 2011 refunding revenue bonds on Thursday, said a term sheet.

The offering included $96 million of series 2011A-1 AMT bonds and $15 million of series 2011A-2 non-AMT bonds.

The bonds (A2/A-/A+) were sold through Morgan Keegan & Co. Inc. with Cabrera Capital Markets LLC, J.P. Morgan Securities LLC and Duncan-Williams Inc. as the co-managers.

The 2011A-1 bonds are due 2012 to 2022 with 3% to 6% coupons. The 2011A-2 bonds are due 2011 to 2018 with 3% to 5.5% coupons.

Proceeds will be used to refund the airport authority's series 1999D and 2001A AMT bonds.

Issuer:	Memphis-Shelby County Airport Authority
Issue:	Series 2011 refunding revenue bonds
Amount:	$111 million
Type:	Negotiated
Underwriters:	Morgan Keegan & Co. Inc. (lead), Cabrera Capital Markets LLC, J.P. Morgan Securities LLC and Duncan-Williams Inc. (co-managers)
Ratings:	Moody's: A2
	Standard & Poor's: A-
	Fitch: A+
Pricing date:	Feb. 10
Settlement date:	March 3
$96 million series 2011A-1 AMT bonds
Maturity	Type	Coupon
2012	Serial	3%
2013	Serial	4%
2014	Serial	5%
2015	Serial	5%
2016	Serial	5%
2017	Serial	5%
2018	Serial	5%
2019	Serial	5.75%
2020	Serial	5.75%
2021	Serial	6%
2022	Serial	6%
$15 million series 2011A-2 non-AMT bonds
Maturity	Type	Coupon
2011	Serial	3%
2012	Serial	3%
2013	Serial	4%
2014	Serial	5%
2015	Serial	5%
2016	Serial	5%
2017	Serial	5.5%
2018	Serial	5.5%

© 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.