Published on 11/3/2011 in the Prospect News Municipals Daily.
New Issue: Delaware issues $275.43 million of G.O. bonds
By Sheri Kasprzak
New York, Nov. 3 - The State of Delaware came to market Thursday with $275.425 million of series 2011 general obligation bonds, according to a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold through Bank of America Merrill Lynch. The co-managers were Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, M&T Securities Inc., PNC Capital Markets LLC, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC.
The bonds are due 2012 to 2031 with 2% to 5% coupons.
Proceeds will be used to fund capital projects.
| Issuer: | State of Delaware
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $275.425 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, M&T Securities Inc., PNC Capital Markets LLC, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $15.525 million | 2012 | Serial | 2% | 101.123
|
| $1.45 million | 2013 | Serial | 2% | 102.56
|
| $19.445 million | 2013 | Serial | 4% | 105.801
|
| $1.2 million | 2014 | Serial | 2% | 103.537
|
| $16.455 million | 2014 | Serial | 5% | 111.342
|
| $2.36 million | 2015 | Serial | 2% | 103.698
|
| $18.18 million | 2015 | Serial | 5% | 114.368
|
| $3.585 million | 2016 | Serial | 2% | 103.315
|
| $12.96 million | 2016 | Serial | 5% | 116.76
|
| $2.25 million | 2017 | Serial | 2.25% | 104.142
|
| $14.255 million | 2017 | Serial | 5% | 118.938
|
| $6.285 million | 2018 | Serial | 2.5% | 104.865
|
| $10.18 million | 2018 | Serial | 5% | 120.46
|
| $875,000 | 2019 | Serial | 2.5% | 103.519
|
| $15.57 million | 2019 | Serial | 5% | 121.123
|
| $2.715 million | 2020 | Serial | 2.75% | 103.899
|
| $13.735 million | 2020 | Serial | 5% | 121.453
|
| $605,000 | 2021 | Serial | 3% | 104.728
|
| $11.24 million | 2021 | Serial | 5% | 120.236
|
| $870,000 | 2022 | Serial | 2.5% | 100
|
| $10.975 million | 2022 | Serial | 5% | 119.291
|
| $11.845 million | 2023 | Serial | 5% | 118.099
|
| $11.845 million | 2024 | Serial | 5% | 116.922
|
| $11.845 million | 2025 | Serial | 5% | 115.429
|
| $1.335 million | 2026 | Serial | 3% | 99.177
|
| $10.51 million | 2026 | Serial | 5% | 114.528
|
| $11.845 million | 2027 | Serial | 5% | 113.715
|
| $285,000 | 2028 | Serial | 3.25% | 100.221
|
| $11.56 million | 2028 | Serial | 5% | 113.312
|
| $11.82 million | 2030 | Serial | 5% | 111.794
|
| $2.36 million | 2031 | Serial | 3.5% | 111.398
|
| $9.455 million | 2031 | Serial | 5% | 100.293
|
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