Published on 4/23/2015 in the Prospect News Municipals Daily.
New Issue: Kentucky Infrastructure sells $64.66 million revenue refunding bonds
By Sheri Kasprzak
New York, April 23 – The Kentucky Infrastructure Authority sold $64.66 million of series 2015A wastewater and drinking water revolving fund revenue refunding bonds, according to a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold through Morgan Stanley & Co. LLC.
The bonds are due 2016 and 2021 to 2026 with 2% to 5% coupons.
Proceeds will be used to advance refund all or a portion of the authority’s series 2010A revenue bonds.
| Issuer: | Kentucky Infrastructure Authority
|
| Issue: | Series 2015A wastewater and drinking water revolving fund revenue refunding bonds
|
| Amount: | $64.66 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead); J.J.B. Hilliard, W.L. Lyons LLC; Raymond James/Morgan Keegan; and PNC Capital Markets LLC (co-senior managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Fitch: AAA
|
| Pricing date: | April 23
|
| Settlement date: | May 21
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,125,000 | 2016 | Serial | 2% | 101.178
|
| $100,000 | 2021 | Serial | 4% | 113.186
|
| $10,345,000 | 2021 | Serial | 5% | 118.612
|
| $125,000 | 2022 | Serial | 3% | 107.666
|
| $9,515,000 | 2022 | Serial | 5% | 120.234
|
| $300,000 | 2023 | Serial | 4% | 114.425
|
| $10,925,000 | 2023 | Serial | 5% | 121.532
|
| $10.21 million | 2024 | Serial | 5% | 122.666
|
| $10,885,000 | 2025 | Serial | 5% | 123.829
|
| $11.13 million | 2026 | Serial | 5% | 122.559
|
© 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.
