By Sheri Kasprzak
New York, Nov. 18 - The Maine Municipal Bond Bank priced $50 million of series 2010 grant anticipation bonds on Thursday, according to a pricing sheet.
The deal included $25.915 million of series 2010A bonds and $24.085 million of series 2010B taxable bonds.
The bonds were sold through Bank of America Merrill Lynch and Citigroup Global Markets Inc. with Fidelity Capital Markets, Edward Jones & Co. and FirstSouthwest Co. as the co-managers.
The 2010A bonds are due 2011 to 2017 with 2% to 5% coupons. The 2010B bonds are due 2018 to 2022 with coupons from 4.524% to 5.324%, all priced at par.
Proceeds will be used to finance transportation, economic development and public safety projects ahead of the disbursement of grants from the Maine Department of Transportation.
Located in Augusta, Maine, the bond bank provides financing to local governments and entities.
| Issuer: | Maine Municipal Bond Bank
|
| Issue: | Series 2010 grant anticipation bonds
|
| Amount: | $50 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Citigroup Global Markets Inc. (lead), Fidelity Capital Markets, Edward Jones & Co. and FirstSouthwest Co. (co-managers)
|
| Pricing date: | Nov. 18
|
| Settlement date: | Dec. 2
|
|
|
| $25.915 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.575 million | 2011 | Serial | 2% | 100
|
| $3.495 million | 2012 | Serial | 5% | 106.531
|
| $3.67 million | 2013 | Serial | 3.5% | 105.527
|
| $3.8 million | 2014 | Serial | 4% | 107.859
|
| $3.95 million | 2015 | Serial | 4% | 108.586
|
| $4.11 million | 2016 | Serial | 5% | 113.589
|
| $4.315 million | 2017 | Serial | 5% | 113.502
|
|
|
| $24.085 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.53 million | 2018 | Serial | 4.524% | 100
|
| $4.665 million | 2019 | Serial | 4.724% | 100
|
| $4.81 million | 2020 | Serial | 4.824% | 100
|
| $4.96 million | 2021 | Serial | 5.074% | 100
|
| $5.12 million | 2022 | Serial | 5.324% | 100
|
© 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.
