New Issue: Kentucky Asset/Liability Commission sells $467.56 million general fund funding notes

By Sheri Kasprzak

New York, Aug. 18 - The Kentucky Asset/Liability Commission priced $467.555 million in series 2010 general fund funding notes on Wednesday, according to a pricing sheet.

The bonds (Aa2) are due 2011 to 2012 and 2018 to 2020 with coupons from 0.841% to 4.204%, all priced at par.

J.P. Morgan Securities Inc. was the senior manager. The co-managers were Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; J.J.B. Hilliard, W.L. Lyons, LLC; PNC Capital Markets LLC; Edwards D. Jones & Co., LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co., Inc.; and Ross, Sinclaire & Associates, LLC.

Proceeds will be used to finance or refinance outstanding obligations and to fund state medical insurance fund obligations of the Teachers' Retirement System of the State of Kentucky.

Issuer:	Kentucky Asset/Liability Commission
Issue:	Series 2010 general fund funding notes
Amount:	$467.555 million
Type:	Negotiated
Underwriters:	J.P. Morgan Securities Inc. (lead); Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; J.J.B. Hilliard, W.L. Lyons, LLC; PNC Capital Markets LLC; Edwards D. Jones & Co., LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co., Inc.; and Ross, Sinclaire & Associates, LLC (co-managers)
Rating:	Moody's: Aa2
Pricing date:	Aug. 18
Settlement date:	Aug. 26
Maturity	Type	Coupon	Price
2011	Serial	0.841%	100
2012	Serial	1.496%	100
2018	Serial	3.165%	100
2019	Serial	4.104%	100
2020	Serial	4.204%	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.