Published on 4/28/2015 in the Prospect News Municipals Daily.
New Issue: Maine Municipal Bond Bank brings to market $69.66 million of bonds
By Sheri Kasprzak
New York, April 28 – The Maine Municipal Bond Bank sold $69.66 million of series 2015 bonds, according to a pricing sheet.
The deal included $43,085,000 of series 2015A bonds and $26,575,000 of series 2015B bonds.
The 2015A bonds are due 2016 to 2035 with a term bond due in 2040. The serial coupons range from 3% to 5%. The 2040 bonds have a 3.5% coupon priced at 97.203.
The 2015B bonds are due 2017 to 2034 with a term bond due in 2038. The serial coupons range from 2% to 5%. The 2038 bonds have a 3.5% coupon priced at 97.65.
The bonds (Aa2/AA+/) were sold through Wells Fargo Securities LLC and BofA Merrill Lynch.
Proceeds will be used to finance capital expenditures and refund the bank’s series 2006A, 2006C, 2007B, 2007E and 2008B bonds.
| Issuer: | Maine Municipal Bond Bank
|
| Issue: | Series 2015 bonds
|
| Amount: | $69.66 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and BofA Merrill Lynch
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA+
|
| Pricing date: | April 28
|
| Settlement date: | May 28
|
|
|
| $43,085,000 series 2015A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,105,000 | 2016 | Serial | 5% | 106.574
|
| $1.2 million | 2017 | Serial | 3% | 105.026
|
| $955,000 | 2017 | Serial | 5% | 109.812
|
| $375,000 | 2018 | Serial | 4% | 109.332
|
| $1.85 million | 2018 | Serial | 5% | 112.677
|
| $170,000 | 2019 | Serial | 4% | 110.981
|
| $2,145,000 | 2019 | Serial | 5% | 115.254
|
| $2.59 million | 2020 | Serial | 5% | 117.485
|
| $395,000 | 2021 | Serial | 3% | 106.998
|
| $1.78 million | 2021 | Serial | 5% | 119.065
|
| $2,235,000 | 2022 | Serial | 5% | 120.68
|
| $2,335,000 | 2023 | Serial | 3% | 106.597
|
| $515,000 | 2024 | Serial | 3% | 105.987
|
| $1.81 million | 2024 | Serial | 5% | 122.855
|
| $2.51 million | 2025 | Serial | 5% | 123.957
|
| $2,175,000 | 2026 | Serial | 4% | 112.613
|
| $2,485,000 | 2027 | Serial | 4% | 110.782
|
| $2.19 million | 2028 | Serial | 4% | 109.268
|
| $1,125,000 | 2029 | Serial | 3% | 98.043
|
| $610,000 | 2029 | Serial | 4% | 108.52
|
| $1,985,000 | 2030 | Serial | 3.75% | 104.209
|
| $1.59 million | 2031 | Serial | 3.75% | 103.671
|
| $1.59 million | 2032 | Serial | 3.75% | 103.137
|
| $1.64 million | 2033 | Serial | 3.75% | 102.782
|
| $1,585,000 | 2034 | Serial | 3.75% | 102.492
|
| $490,000 | 2035 | Serial | 3.37% | 97.187
|
| $2.55 million | 2035 | Serial | 3.75% | 102.165
|
| $100,000 | 2040 | Term | 3.5% | 97.203
|
|
|
| $26,575,000 series 2015B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $740,000 | 2017 | Serial | 2% | 102.632
|
| $100,000 | 2018 | Serial | 2% | 102.642
|
| $1.87 million | 2019 | Serial | 5% | 115.254
|
| $1,895,000 | 2020 | Serial | 5% | 117.485
|
| $1.98 million | 2021 | Serial | 5% | 119.065
|
| $770,000 | 2022 | Serial | 4% | 113.809
|
| $270,000 | 2022 | Serial | 5% | 120.68
|
| $1.98 million | 2023 | Serial | 5% | 121.94
|
| $2,135,000 | 2024 | Serial | 5% | 122.855
|
| $2,155,000 | 2025 | Serial | 3% | 105.598
|
| $2.23 million | 2026 | Serial | 4% | 112.613
|
| $4,045,000 | 2027 | Serial | 5% | 121.18
|
| $1.69 million | 2028 | Serial | 4% | 109.268
|
| $485,000 | 2029 | Serial | 4% | 111.142
|
| $255,000 | 2029 | Serial | 3% | 98.043
|
| $175,000 | 2030 | Serial | 3.125% | 98.015
|
| $550,000 | 2030 | Serial | 4% | 107.87
|
| $145,000 | 2031 | Serial | 3.25% | 98.122
|
| $945,000 | 2031 | Serial | 4% | 107.317
|
| $115,000 | 2032 | Serial | 3.25% | 97.267
|
| $35,000 | 2033 | Serial | 3.375% | 106.402
|
| $675,000 | 2033 | Serial | 4% | 106.745
|
| $265,000 | 2034 | Serial | 3.375% | 97.695
|
| $270,000 | 2038 | Term | 3.5% | 97.65
|
|
|
|
|
© 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.
