By Cristal Cody
Springdale, Ark., April 7 - Georgia Tech Facilities Inc. priced $66.655 million refunding revenue bonds with a 1.65% initial interest rate on Monday, a sellside source told Prospect News.
The $32.895 million series 2008A and $33.76 million series 2008B bonds priced with a weekly variable rate.
The bonds (Aaa/VMIG1) were sold through the Development Authority of Fulton County, Ga.
The series 2008A bonds are due May 1, 2037, and the series 2008B bonds are due June 1, 2032.
Georgia Tech Facilities also plans to price $9.4 million series 2008C bonds (Aa1/VMIG1) and $18.495 million series 2008D bonds (Aaa/VMIG1) by the week of April 21, a source said.
UBS Securities LLC is managing the bond sales.
Proceeds will be used to refund the series 2005A bonds.
| Issuer: | Georgia Tech Facilities/Development Authority of Fulton County, Ga.
|
| Issue: | Refunding revenue bonds
|
| Amount: | $66.655 million
|
| Type: | Negotiated
|
| Initial rate: | 1.65%
|
| Set: | Weekly
|
| Maturity: | 2008A bonds due May 1, 2037; 2008B bonds due June 1, 2032
|
| Underwriter: | UBS Securities LLC
|
| Rating: | Moody's: Aaa/VMIG1
|
| Pricing date: | April 7
|
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