By Sheri Kasprzak
New York, Feb. 9 - The State of South Carolina came to market Wednesday with $335.95 million of series 2011 general obligation bonds, said pricing sheets.
The state sold $192.275 million of series 2011A school facilities refunding bonds, $123.59 million of series 2011A capital improvement refunding bonds and $20.085 million of series 2011A state institution refunding bonds for the University of South Carolina. The state is also expected to price $66.225 million of series 2011B state institution bonds for Clemson University, $15 million of series 2011C state institution bonds for Midlands Technical College, $18.95 million of series 2011D state institution bonds for the University of South Carolina and $26 million of series 2011E state institution bonds for the University of South Carolina.
The 2011A school facilities refunding bonds are due 2012 to 2017 and have 2% to 5% coupons. The 2011A capital improvement bonds are due 2012 to 2018 with 2% to 5% coupons. The 2011A University of South Carolina bonds are due 2012 to 2022 with 2% to 5% coupons.
The bonds (Aaa/AA+/AAA) were sold competitively with Public Resources Advisory Group as the financial adviser.
Proceeds will be used to finance capital improvements to higher educational facilities and refund existing debt.
| Issuer: | State of South Carolina
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $335.95 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | Feb. 9
|
| Settlement date: | March 1
|
|
|
| $192.275 million series 2011A school facilities refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $16.52 million | 2012 | Serial | 2% | 101.595
|
| $16.83 million | 2013 | Serial | 5% | 108.42
|
| $51.55 million | 2014 | Serial | 5% | 111.352
|
| $62.4 million | 2015 | Serial | 5% | 112.998
|
| $33.59 million | 2016 | Serial | 5% | 114.617
|
| $11.385 million | 2017 | Serial | 5% | 115.414
|
|
|
| $123.59 million series 2011A capital improvement refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.51 million | 2012 | Serial | 2% | 101.595
|
| $21.22 million | 2013 | Serial | 5% | 108.42
|
| $22.315 million | 2014 | Serial | 5% | 111.352
|
| $23.59 million | 2015 | Serial | 5% | 112.998
|
| $24.945 million | 2016 | Serial | 5% | 114.617
|
| $18.97 million | 2017 | Serial | 5% | 115.414
|
| $8.04 million | 2018 | Serial | 5% | 115.477
|
|
|
| $20.085 million series 2011A refunding for University of South Carolina
|
| Amount | Maturity | Type | Coupon | Price
|
| $195,000 | 2012 | Serial | 2% | 101.586
|
| $1.73 million | 2013 | Serial | 2.25% | 102.963
|
| $1.765 million | 2014 | Serial | 3% | 105.46
|
| $1.815 million | 2015 | Serial | 3% | 105.277
|
| $1.87 million | 2016 | Serial | 2.25% | 101.564
|
| $1.905 million | 2017 | Serial | 4% | 109.821
|
| $1.99 million | 2018 | Serial | 4% | 109.101
|
| $2.06 million | 2019 | Serial | 5% | 115.042
|
| $2.165 million | 2020 | Serial | 3.5% | 102.801
|
| $2.24 million | 2021 | Serial | 5% | 113.552
|
| $2.35 million | 2022 | Serial | 5% | 112.618
|
© 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.
