By Cristal Cody
Springdale, Ark., May 15 - The Kansas Department of Transportation revealed details Thursday of the sale of $150.87 million of bonds, which priced with a 1.75% initial weekly variable interest rate.
The highway revenue bonds (Aa2/AAA/AA) included $23 million series 2008A-1 bonds, $38.9 million series 2008A-2 bonds, $595,000 series 2008A-3 bonds, $50.275 million series 2008A-4 bonds and $38.1 million series 2008A-5 bonds, said Bruce Burditt, chief of the department's financial and investment management office.
The series 2008A-1 bonds are due Sept. 1, 2013. The series 2008A-2, A-3 and A-4 bonds are due Sept. 1, 2014. The series 2008A-5 bonds are due Sept. 1, 2015.
Wachovia Bank managed the negotiated sale of the series 2008A-1, A-2 and A-5 bonds, and Merrill Lynch & Co. managed the series 2008A-3 and A-4 bonds.
Proceeds will be used for highway capital improvement projects.
| Issuer: | Kansas Department of Transportation
|
| Issue: | Highway revenue bonds
|
| Amount: | $150.87 million
|
| Type: | Negotiated
|
| Initial rate: | 1.75%
|
| Set: | Weekly
|
| Maturities: | 2013-2015
|
| Underwriters: | Wachovia Bank and Merrill Lynch & Co.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
| Fitch: AA
|
| Pricing date: | May 13
|
© 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.
