By Cristal Cody
Springdale, Ark., June 12 - Georgia priced $522.49 million general obligation bonds with 3.02% to 4.269% true interest costs on Thursday, the issuer told Prospect News.
The bonds (Aaa/AAA/AAA) priced through the Georgia State Financing and Investment Commission.
The $53.675 million series 2008A1 bonds and $2.93 million series 2008A2 bonds priced with a 3.02% combined true interest cost, said Lee McElhannon, director of bond finance.
The series 2008A1 bonds priced with 5% coupons to yield 1.8% to 3.13%.
The bonds have serial maturities from 2009 through 2013.
The series 2008A2 bonds priced with 3% to 4% coupons to yield 1.83% to 3.79%.
The bonds have serial maturities from 2009 through 2018.
The $465.885 million series 2008B bonds priced with a 4.269% true interest cost, McElhannon said.
The bonds sold with 3% to 5% coupons to yield 1.78% to 4.45% from 2009 through 2028.
Lehman Brothers was the winning bidder in the competitive sale for the series 2008A1 and 2008A2 bonds.
Merrill Lynch & Co. was the winning bidder for the series 2008B bonds.
Proceeds will be used for capital projects, including for the departments of agriculture, corrections, natural resources and juvenile justice.
| Issuer: | Georgia/ Georgia State Financing and Investment Commission
|
| Issue: | General obligation bonds
|
| Amount: | $522.49 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | June 12
|
| Settlement date: | July 17
|
|
|
| Series 2008A1
|
| Issue: | Series 2008A1
|
| Amount: | $53.675 million
|
| True interest cost: | 3.02%
|
| Coupons: | 5%
|
| Yields: | 1.8%-3.13%
|
| Maturities: | 2009-2013
|
| Underwriter: | Lehman Brothers
|
|
|
| Series 2008A2
|
| Issue: | Series 2008A2
|
| Amount: | $2.93 million
|
| True interest cost: | 3.02%
|
| Coupons: | 3%-4%
|
| Yields: | 1.83%-3.79%
|
| Maturities: | 2009-2018
|
| Underwriter: | Lehman Brothers
|
|
|
| Series 2008B
|
| Issue: | Series 2008B
|
| Amount: | $465.885 million
|
| True interest cost: | 4.269%
|
| Coupons: | 3%-5%
|
| Yields: | 1.78%-4.45%
|
| Maturities: | 2009-2028
|
| Underwriter: | Merrill Lynch & Co.
|
© 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.
