By Sheri Kasprzak
New York, Aug. 25 - The Government Development Bank of Puerto Rico brought $1,182,889,000 in series 2010 senior notes (/BBB/) on Tuesday, said an official statement.
The sale included $1,086,478,000 in series 2010C notes and $96.41 million in series 2010D notes.
The 2010C notes are due 2012 to 2014 and 2017 and 2019. The serial notes have coupons from 3% to 4.25%, all priced at par. The 2017 notes have a 5.15% coupon priced at par and the 2019 notes have a 5.4% coupon priced at par.
The 2010D notes are due 2025 with a 5.75% coupon priced at par.
UBS Financial Services Inc. Puerto Rico was the senior manager. The co-managers were Popular Securities; Santander Securities; Barclays Capital Inc.; BBVAPR MSD; Bank of America Merrill Lynch; FirstBank Securities; Oriental Financial Services; Raymond James & Associates Inc.; Samuel A. Ramirez & Co. Inc.; and Wells Fargo Securities LLC.
Proceeds will be used for general corporate purposes, including expanding its investment portfolio and purchasing obligations from the commonwealth.
| Issuer: | Government Development Bank of Puerto Rico
|
| Issue: | Series 2010 senior notes
|
| Amount: | $1,182,889,000
|
| Type: | Negotiated
|
| Underwriters: | UBS Financial Services Inc. Puerto Rico (lead); Popular Securities; Santander Securities; Barclays Capital Inc.; BBVAPR MSD; Bank of America Merrill Lynch; FirstBank Securities; Oriental Financial Services; Raymond James & Associates Inc.; Samuel A. Ramirez & Co. Inc.; and Wells Fargo Securities LLC (co-managers)
|
| Rating: | Standard & Poor's: BBB
|
| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 26
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 100
|
| 2013 | Serial | 4% | 100
|
| 2014 | Serial | 4.25% | 100
|
| 2017 | Term | 5.15% | 100
|
| 2019 | Term | 5.4% | 100
|
|
|
| Series 2010D
|
| Maturity | Type | Coupon | Price
|
| 2025 | Term | 5.75% | 100
|
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