Published on 12/14/2012 in the Prospect News Municipals Daily.
New Issue: Carmel Redevelopment Authority, Ind., sells $185.15 million lease rental revenue bonds
By Sheri Kasprzak
New York, Dec. 14 - The Carmel Redevelopment Authority of Indiana sold $185,145,000 of series 2012 lease rental revenue multipurpose bonds, according to a pricing sheet.
The bonds were sold through Oppenheimer & Co. Inc. and William Blair & Co.
The sale included $115.9 million of series 2012A bonds and $69,245,000 of series 2012B taxable bonds.
The 2012A bonds are due 2026, 2028, 2030, 2033, 2035 and 2038. The 2026 bonds have a 2.625% coupon priced at 97.477, the 2028 bonds have a 3.75% coupon priced at 107.506 and the 2030 bonds have a 4% coupon priced at 109.68. The 2033 bonds have a 4% coupon priced at 108.107, the 2035 bonds have a 4% coupon priced at 106.903 and the 2038 bonds have a 4% coupon priced at 106.137.
The 2012B bonds are due 2014 to 2025 with 0.608% to 3% coupons, all priced at par.
Proceeds will be used to acquire the Keystone Avenue right-of-way from the City of Carmel.
| Issuer: | Carmel Redevelopment Authority, Ind.
|
| Issue: | Series 2012 lease rental revenue multipurpose bonds
|
| Amount: | $185,145,000
|
| Type: | Negotiated
|
| Underwriters: | Oppenheimer & Co. Inc. and William Blair & Co. (lead), Mesirow Financial (co-manager)
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 27
|
|
|
| $115.9 million series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $14,395,000 | 2026 | Term | 2.625% | 97.477
|
| $18,195,000 | 2028 | Term | 3.75% | 107.506
|
| $15,345,000 | 2030 | Term | 4% | 109.68
|
| $21,035,000 | 2033 | Term | 4% | 108.107
|
| $18,025,000 | 2035 | Term | 4% | 106.903
|
| $28,905,000 | 2038 | Term | 4% | 106.137
|
|
|
| $69,245,000 series 2012B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1 million | 2014 | Serial | 0.608% | 100
|
| $1,735,000 | 2014 | Serial | 0.691% | 100
|
| $1,745,000 | 2015 | Serial | 0.768% | 100
|
| $2.11 million | 2015 | Serial | 0.813% | 100
|
| $2.12 million | 2016 | Serial | 0.857% | 100
|
| $2.68 million | 2016 | Serial | 0.99% | 100
|
| $2,695,000 | 2017 | Serial | 1.188% | 100
|
| $2,805,000 | 2017 | Serial | 1.238% | 100
|
| $2.82 million | 2018 | Serial | 1.288% | 100
|
| $3,075,000 | 2018 | Serial | 1.338% | 100
|
| $3,095,000 | 2019 | Serial | 1.768% | 100
|
| $3.31 million | 2019 | Serial | 1.818% | 100
|
| $3.34 million | 2020 | Serial | 1.99% | 100
|
| $3,525,000 | 2020 | Serial | 2.04% | 100
|
| $3.56 million | 2021 | Serial | 2.40% | 100
|
| $3,775,000 | 2021 | Serial | 2.43% | 100
|
| $3,825,000 | 2022 | Serial | 2.50% | 100
|
| $4.08 million | 2022 | Serial | 2.53% | 100
|
| $4.13 million | 2023 | Serial | 2.65% | 100
|
| $3.85 million | 2023 | Serial | 2.68% | 100
|
| $3.9 million | 2024 | Serial | 2.85% | 100
|
| $3.83 million | 2024 | Serial | 2.88% | 100
|
| $2.24 million | 2025 | Serial | 3.00% | 100
|
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