By Sheri Kasprzak
New York, Nov. 19 – The Kentucky State Property and Buildings Commission sold $111.87 million of series 2015 project No. 110 revenue and revenue refunding bonds on Thursday, according to a pricing sheet.
The bonds (Aa3//A+) were sold through senior manager Citigroup Global Markets Inc.
The bonds are due 2016 to 2035 with 2% to 5% coupons and 0.22% to 3.85% yields.
Proceeds will be used to finance various projects, including economic and community development projects, as well as to refund existing wastewater and drinking water bonds.
| Issuer: | Kentucky State Property and Buildings Commission
|
| Issue: | Series 2015 project No. 110 revenue and revenue refunding bonds
|
| Amount: | $111.87 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Morgan Stanley & Co. LLC; Raymond James/Morgan Keegan; J.J.B. Hilliard, W.L. Lyons LLC; PNC Capital Markets LLC; First Kentucky Securities Corp.; Fifth Third Securities Inc.; FTN Financial Capital Markets; and Ross, Sinclaire and Associates (co-managers)
|
| Ratings: | Moody’s: Aa3
|
| Fitch: A+
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 3
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2016 | Serial | 2% | 100.286 | 0.22%
|
| 2016 | Serial | 2% | 101.041 | 0.42%
|
| 2017 | Serial | 2% | 101.975 | 0.80%
|
| 2018 | Serial | 2.5% | 103.741 | 1.07%
|
| 2019 | Serial | 2.5% | 104.093 | 1.35%
|
| 2019 | Serial | 5% | 112.993 | 1.35%
|
| 2020 | Serial | 4% | 110.736 | 1.60%
|
| 2021 | Serial | 2.75% | 104.43 | 1.92%
|
| 2021 | Serial | 5% | 116.444 | 1.92%
|
| 2022 | Serial | 2.75% | 103.766 | 2.14%
|
| 2023 | Serial | 5% | 118.246 | 2.38%
|
| 2024 | Serial | 5% | 118.501 | 2.60%
|
| 2025 | Serial | 4% | 110.718 | 2.73%
|
| 2025 | Serial | 5% | 119.159 | 2.73%
|
| 2026 | Serial | 5% | 117.672 | 2.89%
|
| 2027 | Serial | 5% | 116.936 | 2.97%
|
| 2028 | Serial | 3% | 97.419 | 3.25%
|
| 2028 | Serial | 5% | 115.934 | 3.08%
|
| 2029 | Serial | 5% | 115.122 | 3.17%
|
| 2030 | Serial | 3.375% | 97.785 | 3.57%
|
| 2030 | Serial | 5% | 114.406 | 3.25%
|
| 2031 | Serial | 3.5% | 98.571 | 3.62%
|
| 2031 | Serial | 5% | 113.783 | 3.32%
|
| 2032 | Serial | 5% | 113.518 | 3.35%
|
| 2033 | Serial | 3.375% | 96.187 | 3.67%
|
| 2033 | Serial | 5% | 113.077 | 3.40%
|
| 2034 | Serial | 5% | 112.638 | 3.45%
|
| 2035 | Serial | 4% | 101.196 | 3.85%
|
| 2035 | Serial | 5% | 112.463 | 3.47%
|
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