Published on 6/5/2013 in the Prospect News Municipals Daily.
New Issue: Kentucky State Property prices $147.12 million revenue, refunding bonds
By Sheri Kasprzak
New York, June 5 - The Kentucky State Property and Buildings Commission sold $147.12 million of series 2013 Project No. 106 revenue and revenue refunding bonds, according to a pricing sheet.
The bonds (Aa3//A+) were sold through Citigroup Global Markets Inc.
The deal included $138.63 million series 2013A revenue bonds and $8.49 million of series 2013B revenue refunding bonds.
The 2013A bonds are due 2014 to 2033 with 3% to 5% coupons and yields from 0.35% to 3.8%.
The 2013B bonds are due 2016 to 2021 with 3% to 4% coupons and 0.98% to 2.56% yields.
Proceeds will be used to refinance a short-term loan taken out by the commission and refund debt for debt service savings.
| Issuer: | Kentucky State Property and Buildings Commission
|
| Issue: | Series 2013 Project No. 106 revenue and revenue refunding bonds
|
| Amount: | $147.12 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Moody's: Aa3
|
| Fitch: A+
|
| Pricing date: | June 5
|
| Settlement date: | June 17
|
|
|
| $138.63 million series 2013A revenue bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4,275,000 | 2014 | Serial | 3% | 103.404 | 0.35%
|
| $4.45 million | 2015 | Serial | 5% | 109.817 | 0.67%
|
| $4.68 million | 2016 | Serial | 5% | 112.977 | 0.98%
|
| $4.92 million | 2017 | Serial | 5% | 115.338 | 1.31%
|
| $5.17 million | 2018 | Serial | 5% | 117.174 | 1.6%
|
| $5,435,000 | 2019 | Serial | 5% | 118.031 | 1.94%
|
| $5,715,000 | 2020 | Serial | 5% | 118.314 | 2.26%
|
| $6.01 million | 2021 | Serial | 5% | 118.115 | 2.56%
|
| $6.32 million | 2022 | Serial | 5% | 117.97 | 2.79%
|
| $6.64 million | 2023 | Serial | 5% | 118.073 | 2.95%
|
| $6.98 million | 2024 | Serial | 5% | 116.72 | 3.09%
|
| $7.34 million | 2025 | Serial | 5% | 115.384 | 3.23%
|
| $7.72 million | 2026 | Serial | 5% | 114.348 | 3.34%
|
| $8,115,000 | 2027 | Serial | 5% | 113.509 | 3.43%
|
| $8.53 million | 2028 | Serial | 5% | 112.861 | 3.5%
|
| $8.96 million | 2029 | Serial | 5% | 112.218 | 3.57%
|
| $9.42 million | 2030 | Serial | 5% | 111.67 | 3.63%
|
| $9.91 million | 2031 | Serial | 5% | 111.125 | 3.69%
|
| $10,415,000 | 2032 | Serial | 5% | 110.583 | 3.75%
|
| $7,625,000 | 2033 | Serial | 5% | 110.134 | 3.8%
|
|
|
| $8.49 million series 2013B refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4,325,000 | 2016 | Serial | 4% | 109.749 | 0.98%
|
| $1,245,000 | 2017 | Serial | 4% | 111.181 | 1.31%
|
| $2.31 million | 2018 | Serial | 4% | 112.122 | 1.6%
|
| $440,000 | 2019 | Serial | 3% | 106.245 | 1.94%
|
| $100,000 | 2020 | Serial | 3% | 104.945 | 2.26%
|
| $70,000 | 2021 | Serial | 3% | 103.265 | 2.56%
|
© 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.
