Published on 2/6/2013 in the Prospect News Municipals Daily.
New Issue: Kentucky Asset/Liability Commission sells $153.29 million taxable notes
By Sheri Kasprzak
New York, Feb. 6 - The Kentucky Asset/Liability Commission sold $153.29 million of series 2013 taxable general fund first series funding notes, according to a pricing sheet.
The bonds (Aa3/A+/A+) were sold through Morgan Stanley & Co. LLC.
The bonds are due 2014 to 2023 with 0.654% to 2.998% coupons, all priced at par.
Proceeds will be used to fund an obligation to the Teachers' Retirement System of Kentucky.
| Issuer: | Kentucky Asset/Liability Commission
|
| Issue: | Series 2013 taxable general fund first series funding notes
|
| Amount: | $153.29 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Goldman, Sachs & Co., J.P. Morgan Securities LLC, J.J.B. Hilliard, W.L. Lyons LLC, PNC Capital Markets LLC, Raymond James/Morgan Keegan, Stifel, Nicolaus & Co. Inc., Edward D. Jones & Co. LP, First Kentucky Securities Corp., Sterne, Agee & Leach Inc. and Ross, Sinclaire & Associates LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 21
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $14.13 million | 2014 | Serial | 0.654% | 100
|
| $14,545,000 | 2015 | Serial | 0.854% | 100
|
| $14,665,000 | 2016 | Serial | 1.028% | 100
|
| $14.82 million | 2017 | Serial | 1.408% | 100
|
| $15,025,000 | 2018 | Serial | 1.688% | 100
|
| $15.28 million | 2019 | Serial | 2.099% | 100
|
| $15.6 million | 2020 | Serial | 2.349% | 100
|
| $15.97 million | 2021 | Serial | 2.668% | 100
|
| $16,395,000 | 2022 | Serial | 2.818% | 100
|
| $16.86 million | 2023 | Serial | 2.998% | 100
|
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