By Sheri Kasprzak
New York, July 1 - The Vermont Municipal Bond Bank sold on Thursday $68.935 million of series 2010 bonds, said a pricing sheet.
The offering included $23.43 million of series 2010-1 bonds, $9.77 million of series 2010-2 recovery zone economic development bonds, $1.365 million of series 2010-3 federally taxable qualified school construction bonds and $34.37 million of series 2010-4 refunding bonds.
The 2010-1 bonds are due 2011 to 2030 with term bonds due 2035 and 2040. Serial coupons range from 2% to 5%. The 2035 bonds have a 4.2% coupon priced at par, and the 2040 bonds have a 4.25% coupon priced at 99.657.
The 2010-2 bonds are due 2011 to 2020 with term bonds due 2025 and 2030. The serial coupons range from 1.387% to 4.27%, all priced at par. The 2025 bonds have a 5.12% coupon priced at par, and the 2030 bonds have a 5.738% coupon, also priced at par.
The 2010-3 bonds are due 2026 and have a 5.388% coupon priced at par.
The 2010-4 bonds are due 2010 to 2031 with coupons from 2% to 5%.
Citigroup Global Markets Inc. was the senior manager.
Proceeds will be used to fund loans to local governments and refinance existing debt.
| Issuer: | Vermont Municipal Bond Bank
|
| Issue: | Series 2010 bonds
|
| Amount: | $68.935 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Pricing date: | June 30
|
| Settlement date: | Sept. 2
|
|
|
| Series 2010-1
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 102.126
|
| 2012 | Serial | 2% | 103.179
|
| 2013 | Serial | 2% | 103.312
|
| 2014 | Serial | 2% | 102.667
|
| 2015 | Serial | 3% | 106.44
|
| 2016 | Serial | 3% | 104.856
|
| 2017 | Serial | 3% | 103.621
|
| 2018 | Serial | 3% | 102.688
|
| 2019 | Serial | 3% | 101.389
|
| 2020 | Serial | 3% | 100
|
| 2021 | Serial | 3.1% | 99.712
|
| 2022 | Serial | 3.25% | 99.795
|
| 2023 | Serial | 5% | 116.61
|
| 2024 | Serial | 5% | 116.336
|
| 2025 | Serial | 5% | 115.903
|
| 2026 | Serial | 5% | 115.456
|
| 2027 | Serial | 5% | 115.157
|
| 2028 | Serial | 5% | 114.758
|
| 2029 | Serial | 5% | 114.267
|
| 2030 | Serial | 5% | 113.69
|
| 2035 | Term | 4.2% | 100
|
| 2040 | Term | 4.25% | 99.657
|
|
|
| Series 2010-2
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.387% | 100
|
| 2012 | Serial | 1.537% | 100
|
| 2013 | Serial | 2.004% | 100
|
| 2014 | Serial | 3.261% | 100
|
| 2015 | Serial | 3.411% | 100
|
| 2016 | Serial | 3.511% | 100
|
| 2017 | Serial | 3.646% | 100
|
| 2018 | Serial | 3.97% | 100
|
| 2019 | Serial | 4.17% | 100
|
| 2020 | Serial | 4.27% | 100
|
| 2025 | Term | 5.12% | 100
|
| 2030 | Term | 5.738% | 100
|
|
|
| Series 2010-3
|
| Maturity | Type | Coupon | Price
|
| 2026 | Term | 5.388% | 100
|
|
|
| Series 2010-4
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | 100.394
|
| 2011 | Serial | 3% | 103.104
|
| 2011 | Serial | 5% | 105.587
|
| 2012 | Serial | 3% | 105.118
|
| 2013 | Serial | 3% | 106.142
|
| 2014 | Serial | 3% | 106.403
|
| 2015 | Serial | 3% | 105.929
|
| 2016 | Serial | 4% | 110.265
|
| 2017 | Serial | 4% | 109.813
|
| 2018 | Serial | 5% | 116.979
|
| 2019 | Serial | 5% | 117.187
|
| 2020 | Serial | 5% | 117.141
|
| 2021 | Serial | 5% | 117.194
|
| 2022 | Serial | 3.3% | 99.796
|
| 2023 | Serial | 3.4% | 99.257
|
| 2024 | Serial | 3.5% | 99.219
|
| 2025 | Serial | 3.6% | 98.953
|
| 2026 | Serial | 3.7% | 99.031
|
| 2027 | Serial | 3.8% | 99.369
|
| 2028 | Serial | 3.9% | 99.736
|
| 2029 | Serial | 4% | 100
|
| 2030 | Serial | 4% | 99.172
|
| 2031 | Serial | 4% | 98.167
|
© 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.
