By Sheri Kasprzak
New York, Nov. 29 - The Vermont Municipal Bond Bank sold $70.215 million of series 2011 bonds Tuesday, said a pricing sheet.
The deal included $43.375 million of series 2011-5 bonds and $26.84 million of series 2011-6 refunding bonds.
The 2011-5 bonds are due 2012 to 2032 with term bonds due in 2036 and 2041. The serial coupons range from 2% to 5%. The 2036 bonds have a 5% coupon and the 2041 bonds also have a 5% coupon.
The 2011-6 bonds are due 2014 to 2033 with 3% to 5% coupons.
Citigroup Global Markets Inc. was the underwriter for the bonds (Aa2/AA/).
Proceeds will be used to purchase general obligation bonds issued by governmental units within the state, as well as to refund existing debt.
| Issuer: | Vermont Municipal Bond Bank
|
| Issue: | Series 2011 bonds
|
| Amount: | $70.215 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (sole)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 15
|
|
|
| $43.375 million series 2011-5 bonds
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 2%
|
| 2013 | Serial | 2%
|
| 2014 | Serial | 2%
|
| 2015 | Serial | 2%
|
| 2016 | Serial | 2%
|
| 2017 | Serial | 3%
|
| 2018 | Serial | 3%
|
| 2019 | Serial | 3%
|
| 2020 | Serial | 4%
|
| 2021 | Serial | 4%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5%
|
| 2030 | Serial | 5%
|
| 2031 | Serial | 5%
|
| 2032 | Serial | 5%
|
| 2036 | Term | 5%
|
| 2041 | Term | 5%
|
|
|
| $26.84 million series 2011-6 refunding bonds
|
| Maturity | Type | Coupon
|
| 2014 | Serial | 3%
|
| 2015 | Serial | 3%
|
| 2016 | Serial | 3%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 3%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 3%
|
| 2025 | Serial | 3%
|
| 2026 | Serial | 3.25%
|
| 2027 | Serial | 3.3%
|
| 2028 | Serial | 3.375%
|
| 2029 | Serial | 3.5%
|
| 2030 | Serial | 3.625%
|
| 2031 | Serial | 3.75%
|
| 2032 | Serial | 3.75%
|
| 2033 | Serial | 4%
|
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