By Sheri Kasprzak
New York, June 28 - The State of Colorado priced $125 million of series 2012B education loan program tax and revenue anticipation notes, said a pricing sheet.
The notes (MIG 1/SP-1+/) were sold competitively with Bank of America Merrill Lynch winning the bid, said Charles Scheibe, chief financial officer with the state treasurer's office. The true interest cost came in at 0.199581%.
The notes are due June 27, 2013 and have a 2% coupon priced at 101.746.
Proceeds will be used to make interest-free loans to certain Colorado school districts to alleviate temporary general fund cash flow deficits expected during the fiscal year ending June 30, 2013.
Issuer: | State of Colorado
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Issue: | Series 2012B education loan program tax and revenue anticipation notes
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Amount: | $125 million
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Type: | Competitive
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Underwriter: | Bank of America Merrill Lynch (winner)
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TIC: | 0.199581%
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Ratings: | Moody's: MIG 1
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| Standard & Poor's: SP-1+
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Pricing date: | June 28
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Settlement date: | July 19
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