By Sheri Kasprzak
New York, July 24 - The Downtown Development Authority of Dahlonega, Ga., sold $80.66 million in series 2009 revenue bonds for the North Georgia PHD LLC project on Thursday, according to a pricing sheet released Friday.
The bonds (Aaa/A+/) are due 2011 to 2024 with term bonds due 2029, 2034 and 2040. The serials have coupons from 3% to 5%. The 2029 bonds have a 5% coupon, priced at 98.141 and the 2034 bonds have a 5.25% coupon, priced at 98.222. The 2040 bonds have a 5.25% coupon, priced at 95.727.
Merchants National Bank & Trust Co. was the senior manager.
Proceeds will be used to construct new facilities for North Georgia College and State University.
| Issuer: | Downtown Development Authority of Dahlonega
|
| Issue: | Series 2009 revenue bonds
|
| Amount: | $80.66 million
|
| Type: | Negotiated
|
| Underwriter: | Merchants National Bank & Trust Co.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: A+
|
| Pricing date: | July 23
|
| Settlement date: | Aug. 4
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 3% | 102.146
|
| 2012 | Serial | 3% | 102.525
|
| 2013 | Serial | 3% | 101.849
|
| 2014 | Serial | 3% | 100.225
|
| 2015 | Serial | 4% | 104.000
|
| 2016 | Serial | 5% | 108.939
|
| 2017 | Serial | 4% | 101.352
|
| 2018 | Serial | 5% | 107.429
|
| 2019 | Serial | 4% | 98.549
|
| 2020 | Serial | 5% | 105.594
|
| 2021 | Serial | 4.375% | 98.582
|
| 2022 | Serial | 4.5% | 98.267
|
| 2023 | Serial | 4.625% | 98.235
|
| 2024 | Serial | 5% | 101.045
|
| 2029 | Term | 5% | 98.141
|
| 2034 | Term | 5.25% | 98.222
|
| 2040 | Term | 5.25% | 95.727
|
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