By Sheri Kasprzak
New York, April 20 - The State of Texas priced $185.44 million in series 2010 general obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AAA) were sold through Barclays Capital Inc. The co-managers were Frost Bank, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Sterne, Agee & Leach Inc.
The offering included $143.745 million in series 2010B bonds and $41.695 million in series 2010C bonds.
The 2010B bonds are due 2011 to 2030 with 4% to 5% coupons. The 2010C bonds are due 2010 to 2030 with coupons from 2% to 5%.
Proceeds will be used to fund water development projects, as well as to refund existing debt.
Issuer: | State of Texas
|
Issue: | Series 2010 general obligation bonds
|
Amount: | $185.44 million
|
Type: | Negotiated
|
Underwriters: | Barclays Capital Inc. (lead), Frost Bank, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Sterne, Agee & Leach Inc. (co-managers)
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
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| Fitch: AAA
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Pricing date: | April 20
|
|
Series 2010B
|
Maturity | Type | Coupon | Price
|
2011 | Serial | 5% | 105.513
|
2012 | Serial | 5% | 108.976
|
2013 | Serial | 5% | 111.805
|
2014 | Serial | 5% | 113.693
|
2015 | Serial | 5% | 114.803
|
2016 | Serial | 4% | 109.133
|
2016 | Serial | 5% | 114.878
|
2017 | Serial | 5% | 114.925
|
2018 | Serial | 5% | 115.102
|
2019 | Serial | 4% | 107.084
|
2019 | Serial | 5% | 115.047
|
2020 | Serial | 4.5% | 109.803
|
2020 | Serial | 5% | 113.758
|
2021 | Serial | 5% | 112.739
|
2022 | Serial | 5% | 112.065
|
2023 | Serial | 5% | 111.23
|
2024 | Serial | 5% | 110.567
|
2025 | Serial | 5% | 109.909
|
2026 | Serial | 5% | 109.909
|
2027 | Serial | 5% | 108.607
|
2028 | Serial | 5% | 107.963
|
2029 | Serial | 5% | 107.563
|
2030 | Serial | 4.125% | 99.654
|
2030 | Serial | 5% | 107.085
|
|
Series 2010C
|
Maturity | Type | Coupon | Price
|
2010 | Serial | 2% | 100.37
|
2011 | Serial | 3% | 103.079
|
2011 | Serial | 5% | 105.513
|
2012 | Serial | 3% | 104.586
|
2012 | Serial | 5% | 108.976
|
2013 | Serial | 3% | 105.508
|
2014 | Serial | 3% | 105.566
|
2015 | Serial | 4% | 109.868
|
2016 | Serial | 4% | 109.133
|
2017 | Serial | 4% | 108.406
|
2018 | Serial | 4% | 107.84
|
2019 | Serial | 4% | 107.084
|
2020 | Serial | 4% | 105.849
|
2020 | Serial | 4.5% | 109.803
|
2021 | Serial | 4% | 104.711
|
2021 | Serial | 5% | 112.739
|
2022 | Serial | 4% | 103.827
|
2022 | Serial | 5% | 112.065
|
2023 | Serial | 5% | 111.23
|
2024 | Serial | 5% | 110.567
|
2025 | Serial | 5% | 109.909
|
2026 | Serial | 5% | 109.256
|
2027 | Serial | 5% | 108.607
|
2028 | Serial | 5% | 107.963
|
2029 | Serial | 5% | 107.563
|
2030 | Serial | 5% | 107.085
|
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