By Sheri Kasprzak
New York, Oct. 28 - The Kentucky State Property and Buildings Commission sold $401.345 million in series 2009 project No. 96 revenue bonds on Wednesday, according to a pricing sheet.
The sale included $64.09 million in series 2009A bonds, $14.17 million in series 2009B taxable bonds and $323.085 million in series 2009C taxable bonds.
The 2009A bonds are due 2012 to 2014 with term bonds due 2029. The serials have coupons from 3% to 5% and the 2029 bonds have a 5% coupon, priced at 97.371 and the other 2029 bonds have a 5% coupon, but are not being reoffered.
The 2009B bonds are due 2010 to 2011 with 0.72% to 1.627% coupons, both priced at par.
The 2009C bonds are due 2015 to 2019 with term bonds due 2022 and 2029. The serials have coupons from 4.077% to 5.061%, all priced at par. The 2022 bonds have a 5.561% coupon, priced at par, and the 2029 bonds have a 6.155% coupon, also priced at par.
Morgan Stanley & Co. Inc. was the senior manager. The co-managers included Citigroup Global Markets Inc.; J.J.B. Hilliard; W.L. Lyons LLC; Morgan Keegan & Co. Inc.; PNC Capital Markets LLC; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Stifel Nicolaus & Co. Inc.; Ross, Sinclaire & Associates LLC; Sterne, Agee & Leach Inc;. and Merrill Lynch & Co.
Proceeds will be used to construct and equip projects for the commission.
| Issuer: | Kentucky State Property and Buildings Commission
|
| Issue: | Series 2009 project No. 96 revenue bonds
|
| Amount: | $401.345 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); Citigroup Global Markets Inc.; J.J.B. Hilliard; W.L. Lyons LLC; Morgan Keegan & Co. Inc.; PNC Capital Markets LLC; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Stifel Nicolaus & Co. Inc.; Ross, Sinclaire & Associates LLC; Sterne, Agee & Leach Inc;. Merrill Lynch & Co. (co-managers)
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 17
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 104.025
|
| 2012 | Serial | 4% | 106.900
|
| 2013 | Serial | 3% | 103.552
|
| 2013 | Serial | 4% | 107.332
|
| 2014 | Serial | 3% | 102.175
|
| 2014 | Serial | 5% | 111.434
|
| 2029 | Term | 4.25% | 97.371
|
| 2029 | Term | 5% | NRO
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 0.72% | Par
|
| 2011 | Serial | 1.627% | Par
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Price
|
| 2015 | Serial | 4.077% | Par
|
| 2016 | Serial | 4.44% | Par
|
| 2017 | Serial | 4.64% | Par
|
| 2018 | Serial | 4.961% | Par
|
| 2019 | Serial | 5.061% | Par
|
| 2022 | Term | 5.561% | Par
|
| 2029 | Term | 6.155% | Par
|
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