Published on 2/21/2013 in the Prospect News Municipals Daily.
New Issue: Delaware brings $336.33 million of series 2013A & B G.O. bonds
By Sheri Kasprzak
New York, Feb. 21 - The State of Delaware sold $336.33 million of series 2013 general obligation bonds, said a pricing sheet.
The deal included $111.33 million of series 2013A bonds and $225 million of series 2013B bonds.
The 2013A bonds are due 2017 to 2026 with 2% to 5% coupons. The 2013B bonds are due 2014 to 2033 with coupons from 2% to 5%.
The bonds (Aaa/AAA/AAA) were sold through BofA Merrill Lynch and Raymond James/Morgan Keegan.
Proceeds will be used to finance capital facilities for the state, as well as to refund the state's series 2005D, 2006A-B, 2007A and 2011 G.O. bonds.
| Issuer: | State of Delaware
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $336.33 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Raymond James/Morgan Keegan (lead), Drexel Hamilton LLC, Loop Capital Markets LLC, M&T Securities Inc. and TD Securities USA Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 28
|
|
|
| $111.33 million series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.3 million | 2017 | Serial | 3% | 110.141
|
| $5.25 million | 2017 | Serial | 4% | 114.494
|
| $11.25 million | 2017 | Serial | 5% | 118.847
|
| $3 million | 2018 | Serial | 2% | 105.702
|
| $3,155,000 | 2018 | Serial | 5% | 121.541
|
| $3 million | 2019 | Serial | 3% | 111.491
|
| $6.62 million | 2019 | Serial | 5% | 123.847
|
| $2 million | 2020 | Serial | 2% | 104.216
|
| $2,605,000 | 2020 | Serial | 4% | 118.273
|
| $5,005,000 | 2020 | Serial | 5% | 125.302
|
| $2 million | 2021 | Serial | 3% | 110.992
|
| $7.61 million | 2021 | Serial | 5% | 126.697
|
| $3 million | 2022 | Serial | 3% | 110.541
|
| $6,625,000 | 2022 | Serial | 5% | 127.824
|
| $2,605,000 | 2023 | Serial | 4% | 119.253
|
| $7.1 million | 2023 | Serial | 5% | 128.863
|
| $2,585,000 | 2024 | Serial | 2% | 98.787
|
| $2 million | 2024 | Serial | 4% | 118.218
|
| $9,695,000 | 2024 | Serial | 5% | 128.102
|
| $4,295,000 | 2025 | Serial | 3% | 106.359
|
| $9,995,000 | 2025 | Serial | 5% | 127.131
|
| $9,635,000 | 2026 | Serial | 3% | 104.656
|
|
|
| $225 million series 2013B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $11,845,000 | 2014 | Serial | 2% | 101.7
|
| $11,845,000 | 2015 | Serial | 3% | 105.158
|
| $11,845,000 | 2016 | Serial | 5% | 113.175
|
| $11,845,000 | 2017 | Serial | 5% | 117.042
|
| $11,845,000 | 2018 | Serial | 5% | 120.028
|
| $11,845,000 | 2019 | Serial | 5% | 122.567
|
| $11,845,000 | 2020 | Serial | 5% | 124.351
|
| $11,845,000 | 2021 | Serial | 5% | 125.803
|
| $11.84 million | 2022 | Serial | 5% | 124.285
|
| $11.84 million | 2023 | Serial | 5% | 122.788
|
| $11.84 million | 2024 | Serial | 3% | 105.043
|
| $11.84 million | 2025 | Serial | 3% | 104.085
|
| $11.84 million | 2026 | Serial | 3% | 103.354
|
| $11.84 million | 2027 | Serial | 3% | 102.63
|
| $11.84 million | 2028 | Serial | 3% | 102.126
|
| $11.84 million | 2029 | Serial | 3% | 101.696
|
| $11.84 million | 2031 | Serial | 3% | 101.056
|
| $11.84 million | 2032 | Serial | 3% | 100.772
|
| $11.84 million | 2033 | Serial | 3% | 100.49
|
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