By Sheri Kasprzak
New York, Oct. 13 - The State of Tennessee priced Thursday $317.67 million of series 2011 general obligation bonds, said a pricing sheet. The deal was downsized from $361.055 million.
The offering included $255.4 million of series 2011A G.O. bonds and $62.27 million of series 2011B G.O. refunding bonds.
The 2011A bonds are due 2012 to 2031 with 2% to 5% coupons. The 2011B bonds are due 2012 to 2025 with 2% to 5% coupons.
The bonds (Aaa/AA+/AAA) were sold through Citigroup Global Markets Inc. and Barclays Capital Markets Inc. The co-managers were Morgan Keegan & Co. Inc.; Morgan Stanley & Co. LLC; SunTrust Robinson Humphrey Inc.; Wells Fargo Securities LLC; and Wiley Bros.-Aintree Capital LLC.
Proceeds will be used to finance capital projects and refund commercial paper issued to fund previous capital projects.
Issuer: | State of Tennessee
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Issue: | Series 2011 general obligation bonds
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Amount: | $317.67 million
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Type: | Negotiated
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Underwriters: | Citigroup Global Markets Inc. and Barclays Capital Inc. (lead), Morgan Keegan & Co. Inc.; Morgan Stanley & Co. LLC; SunTrust Robinson Humphrey Inc.; Wells Fargo Securities LLC; and Wiley Bros.-Aintree Capital LLC (co-managers)
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Ratings: | Moody's: Aaa
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| Standard & Poor's: AA+
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| Fitch: AAA
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Pricing date: | Oct. 13
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Settlement date: | Oct. 26
|
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$255.4 million series 2011A G.O. bonds
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Amount | Maturity | Type | Coupon | Price
|
$12.77 million | 2012 | Serial | 2% | 101.634
|
$12.77 million | 2013 | Serial | 5% | 108.634
|
$12.77 million | 2014 | Serial | 5% | 112.233
|
$12.77 million | 2015 | Serial | 5% | 114.961
|
$12.77 million | 2016 | Serial | 5% | 116.832
|
$12.77 million | 2017 | Serial | 5% | 118.292
|
$12.77 million | 2018 | Serial | 5% | 119.109
|
$12.77 million | 2019 | Serial | 5% | 119.15
|
$12.77 million | 2020 | Serial | 5% | 119.191
|
$12.77 million | 2021 | Serial | 5% | 119.915
|
$12.77 million | 2022 | Serial | 5% | 118.384
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$12.77 million | 2023 | Serial | 5% | 117.251
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$12.77 million | 2024 | Serial | 5% | 116.131
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$12.77 million | 2025 | Serial | 5% | 115.115
|
$12.77 million | 2026 | Serial | 5% | 114.11
|
$12.77 million | 2027 | Serial | 5% | 113.206
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$12.77 million | 2028 | Serial | 5% | 112.488
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$12.77 million | 2029 | Serial | 5% | 111.688
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$12.77 million | 2030 | Serial | 5% | 111.158
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$12.77 million | 2031 | Serial | 5% | 110.631
|
|
$62.27 million series 2011B G.O. refunding bonds
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Amount | Maturity | Type | Coupon | Price
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$185,000 | 2012 | Serial | 2% | 101.342
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$6.635 million | 2014 | Serial | 5% | 111.544
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$6.65 million | 2015 | Serial | 5% | 114.339
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$6.7 million | 2016 | Serial | 5% | 116.281
|
$6.74 million | 2017 | Serial | 5% | 117.802
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$6.78 million | 2018 | Serial | 5% | 118.679
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$6.96 million | 2019 | Serial | 5% | 118.78
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$7 million | 2020 | Serial | 5% | 118.869
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$7.045 million | 2021 | Serial | 5% | 119.62
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$7.085 million | 2022 | Serial | 5% | 118.114
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$125,000 | 2023 | Serial | 3% | 100.165
|
$180,000 | 2024 | Serial | 3% | 98.949
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$185,000 | 2025 | Serial | 3% | 97.675
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