Most Recent Financings
For additional details on any recent or upcoming financings, please contact AMBBA directly at (907) 465-2893.
Most Recent Financings
On July 29, 2026, the Authority issued the 2026 Series Two (Tax-Exempt), in the principal amount of $37.795 million, with interest rate yields ranging between 2.48% and 3.99% and bond coupon rates of 5.00%. The Authority issued the bonds to provide approximately $41.4 million in new funding to the University of Alaska to refinance existing debt at the University level. At the time of issuance, the 2026 Series Two bonds produced estimated gross savings of approximately $3.3 million to the University.
In April 2026, the Bond Bank closed on approximately $59.8 million in General Obligation Bonds, the 2026 Series One (Tax-Exempt), under its 2005 General Resolution Program. There were five participants in the transaction: the Kenai Peninsula Borough to finance public school projects, the Southeast Alaska Power Agency to refund outstanding electric revenue debt through the Bond Bank program, the City of Seward to finance harbor improvements, the City of Soldotna to refund an outstanding Bond Anticipation Note for completion of their fieldhouse, and the City and Borough of Wrangell to make capital improvements to both their Public Safety Building as well as waterfront facility projects. The 2026 Series One bonds produced estimated gross savings for all borrowers of approximately $9.9 million.
In July 2025, the Authority issued $100.845 million in general obligation and refunding bonds, the 2025 Series Three (Tax-Exempt) with interest rate yields ranging between 2.62% and 4.04% and bond coupon rates of 5.00%. The Authority issued the bonds to current refund $45.84 million in outstanding 2015 Series Three general obligation bonds of the Authority and provide $57.795 million in new funding from the Bond Bank to the University of Alaska to current refund outstanding debt at the University level. The 2025 Series Three bonds produced gross savings for the University of approximately $11.0 million.
In April 2025, the Bond Bank closed on approximately $55.6 million in General Obligation and Refunding Bonds, the 2025 Series One (Tax-Exempt) and the 2025 Series Two (AMT), under its 2005 General Resolution Program. There were eight participants in the transaction, with a combination of new money and refinancings. The new money projects included $3.5 million to Petersburg Borough to finance costs of certain capital improvements to the Petersburg Borough high/middle school, $5.0 million to Ketchikan Gateway Borough to finance improvements to Ketchikan International Airport; and $4.5 million to the City of Whittier, to finance improvements to the City’s small boat harbor. Additionally, prior debt issued through the Bond Bank was refinanced on behalf of the City of Cordova, the City and Borough of Juneau, Kenai Peninsula Borough, Kodiak Island Borough, and the City of Unalaska. The 2025 Series One and Two bonds produced estimated gross savings for all borrowers of approximately $8.8 million.
In December 2023, the Bond Bank closed on approximately $35.1 million in General Obligation Bonds, the 2023 Series Three (AMT), under its 2005 General Resolution Program. There was one participant in the transaction: $35.1 million to the Municipality of Skagway related to a completion financing related of the Ore Peninsula dock located at the Port of Skagway. The 2023 Series Three bonds produced estimated gross savings for Skagway of approximately $4.5 million
In February 2023, the Bond Bank closed on approximately $86.5 million in General Obligation Bonds, the 2023 Series One (Tax-Exempt) and the 2023 Series Two (AMT), under its 2005 General Resolution Program. There were four participants in the transaction: the Kenai Peninsula Borough to finance public school projects ($14.5 million) and to construct a fire station ($30 million), the City of Soldotna for initial financing of the fieldhouse ($9 million), the City and Borough of Wrangell to finance public school projects ($3.1 million) and the Municipality of Skagway for initial financing of the Ore Peninsula dock at the Port of Skagway ($29.9 million). The 2023 Series One and Two bonds produced estimated gross savings for all borrowers of approximately $11.6 million.
In September 2022, the Authority closed on the 2022 Series Two bonds. The 2022 Series Two bonds consisted of $10.99 million in General Obligation bonds with interest rates ranging between 4% and 5%. The proceeds of the 2022 Series Two bonds were used to make new loans to of $5.99 million to the Southeast Alaska Power Agency, and $5 million to the City of Cordova for harbor projects. The 2022 Series Two bonds produced estimated gross savings for all borrowers of approximately $1.9 million
In April 2022, the Bond Bank closed on approximately $41.3 million in General Obligation Bonds, the 2022 Series One (Tax-Exempt), under its 2005 General Resolution Program. There were four participants in the transaction: the Ketchikan Gateway Borough to finance recreation projects ($6.7 million), the City and Borough of Juneau for Bartlett Regional Hospital ($18.8 million), the Petersburg Borough for electric utility projects ($7.1 million), and the City of Seward for electric utility projects ($8.8 million). The 2022 Series One bonds produced estimated gross savings for all borrowers of approximately $5.9 million.
In December 2021, the Authority closed on $5.725 million in general obligation refunding bonds, the 2021 Series Three (AMT Forward Delivery), The Authority issued the forward delivery bonds to current refund $7.045 million in outstanding 2015-2B general obligation bonds of the 2005 Resolution on behalf of the City and Borough of Juneau’s Cruise Dock. The refinancing reduced total debt service payments over the next 12 years by approximately $1.9 million.
On June 16, 2021, the Authority issued $230.75 million in general obligation and refunding bonds, the 2021 Series One (Tax-Exempt), with interest rate yields ranging between 0.15% and 1.88% and bond coupon rates between 4% and 5%, and the 2021 Series Two (Taxable), with interest rate yields and coupons ranging between 0.243% and 3.128%. The Authority issued the bonds to current (Tax-Exempt) and advance refund (Taxable) $194,945,000 in outstanding 2010-3B, 2011-1, 2011-2, 2011-3, 2012-2, 2013-1, 2013-2A, 2013-2B, 2013-3, 2014-1A, and 2014-3 general obligation bonds with interest rate yields ranging between 2.03% and 5.432% and bond coupons between 2.75% and 5.432%. The Authority used the net proceeds along with other resources to purchase U.S. government securities. These securities were deposited in an irrevocable trust to provide for all future debt service on the refunded portion of the series bonds listed above. As a result, these bonds are considered legally defeased, and the Authority has removed the liability from its financial statements. The outstanding principal of the defeased bonds was $194,945,000 on June 30, 2021. The advance refunding reduced the total debt service payments over the next 27 years by over $36.1 million. This results in an economic gain (difference between the present values of the debt service payments on the old and new debt) of approximately $29.4 million.
In July 2020, the Bond Bank closed on $98.310 million in General Obligation Bonds, the 2020 Series One, under its 2005 General Resolution Program. The 2020 Series One bond proceeds were used: (i) to make new loans to the Fairbanks North Star Borough to refinance for savings certain outstanding school general obligation bonds previously issued by the Borough; (ii) to make a new loan to the City of Ketchikan for a portion of the capital improvement costs related to an undersea fiber optic telecommunications cable; (iii) to make a new loan to the City of King Cove for electric utility improvements; (iv) to make new loans to the Kodiak Island Borough for school capital improvements; (v) to refinance outstanding bonds for savings for the City and Borough of Juneau, City of Kenai, Kenai Peninsula Borough, City of Ketchikan, Ketchikan Gateway Borough, City of King Cove, Northwest Arctic Borough, Petersburg Borough, City and Borough of Sitka, City of Soldotna, and the City of Unalaska; and (vi) to pay a portion of the costs of issuing the 2020 Series One Bonds.