In November 2012 the voters authorized the additional issuance of $453 million of General Obligation Bonds for transportation projects. On March 19, 2015 the State of Alaska issued $155,215,000 of General Obligation Bond Anticipation Notes (BANs) for the purpose of paying the costs of design and construction of State transportation projects pursuant to the State Transportation Bond Act. The notes are set to mature on March 18, 2016 and have a true interest cost of 0.154%.
Upon issuance, these short term General Obligation Bond Anticipation Notes were rated MIG 1 by Moody’s Investors Service, SP-1+ by Standard & Poor’s and F1+ by Fitch Ratings. For the official statements related to the most recent BAN issuances, please see below:
On April 9, 2015 the State of Alaska closed on $94,425,000 of General Obligation Refunding Bonds, Series 2015B, used to advance refund certain maturities of the State's 2009 Series A Bonds. The transaction obtained a true interest cost of 2.3833%, and over $7.5 million in present value savings.
Upon issuance, these General Obligation Refunding Bonds were rated Aaa by Moody’s Investors Service, AAA by Standard & Poor’s and AAA by Fitch Ratings.
Please find a copy of the OS below:
For the most up-to-date information on the Knik Arm Crossing Project, please visit: www.knikarmbridge.com/project/
The State of Alaska plans to issue the International Airports System Revenue Refunding Bonds, Series 2016A with a tentative schedule to price in January 2016. Also, the State of Alaska anticipates an issuance to refinance the State's Bond Anticipation Notes. For additional details on these upcoming financings, please contact Debt Management directly at (907) 465-3750.
Please find other recent State of Alaska debt financings below: