By Sheri Kasprzak
New York, Jan. 6 – The State of Colorado hit the market Wednesday with $339 million of series 2015B tax and revenue anticipation notes, according to a pricing sheet.
The notes (MIG 1/SP-1+/) were sold competitively.
The deal included $150 million of notes due June 29, 2016 with a 2% coupon priced at 100.815 to yield 0.24% and $189 million of notes due June 29, 2016 with a 3% coupon priced at 101.278 to yield 0.24%.
Proceeds will be used to make interest-free loans to Colorado public schools to alleviate temporary cash-flow deficits.
| Issuer: | State of Colorado
|
| Issue: | Series 2015B tax and revenue anticipation notes
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| Amount: | $339 million
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| Type: | Competitive
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| Ratings: | Moody’s: MIG 1
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| Standard & Poor’s: SP-1+
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| Pricing date: | Jan. 6
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| Settlement date: | Jan. 12
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $150 million | June 29, 2016 | Term | 2% | 100.815 | 0.24%
|
| $189 million | June 29, 2016 | Term | 3% | 101.278 | 0.24%
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