Published on 3/6/2012 in the Prospect News Municipals Daily.
New Issue: Vermont sells $94.06 million G.O. bonds via Citigroup as senior manager
By Sheri Kasprzak
New York, March 6 - The State of Vermont priced $94.06 million of series 2012 general obligation bonds, according to a pricing sheet.
The deal included $25 million of series 2012A Vermont citizen bonds and $69.06 million of series 2012D G.O. refunding bonds.
The 2012A bonds are due 2012 and 2016 to 2022 and the 2012D bonds are due 2014 to 2025.
The 2012A bonds have 0.60% to 3% coupons. The 2012D bonds have coupons from 0.60% to 5%.
Citigroup Global Markets Inc. was the senior manager and Bank of America Merrill Lynch and Wells Fargo Securities LLC were the co-managers.
Proceeds will be used to refund state's series 2004D, 2005A, 2005D, 2007A and 2007D G.O. bonds.
| Issuer: | State of Vermont
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $94.06 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead); Bank of America Merrill Lynch and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | March 6
|
| Settlement date: | March 21
|
|
|
| $25 million series 2012A Vermont citizen bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.3 million | 2012 | Serial | 1% | 100.343
|
| $2.6 million | 2016 | Serial | 0.60% | 100
|
| $3.15 million | 2017 | Serial | 2% | 106.274
|
| $3.15 million | 2018 | Serial | 2% | 105.293
|
| $3.15 million | 2019 | Serial | 3% | 111.134
|
| $3.15 million | 2020 | Serial | 3% | 110.382
|
| $3.15 million | 2021 | Serial | 3% | 109.607
|
| $350,000 | 2022 | Serial | 3% | 108.261
|
|
|
|
|
| $69.06 million series 2012D G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,275,000 | 2014 | Serial | 3% | 106.327
|
| $4,345,000 | 2015 | Serial | 3% | 108.417
|
| $2.25 million | 2016 | Serial | 0.60% | 100
|
| $4,295,000 | 2016 | Serial | 4% | 114.741
|
| $6,495,000 | 2017 | Serial | 4% | 116.82
|
| $6.48 million | 2018 | Serial | 4% | 117.602
|
| $6.48 million | 2019 | Serial | 4% | 118.138
|
| $11.02 million | 2020 | Serial | 4% | 118.189
|
| $2.5 million | 2021 | Serial | 1.85% | 99.741
|
| $6,255,000 | 2021 | Serial | 5% | 126.766
|
| $7.5 million | 2022 | Serial | 2% | 99.719
|
| $3,425,000 | 2022 | Serial | 5% | 125.297
|
| $1.93 million | 2023 | Serial | 5% | 124.233
|
| $1,915,000 | 2024 | Serial | 5% | 123.084
|
| $1,895,000 | 2025 | Serial | 5% | 122.231
|
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