Published on 2/16/2012 in the Prospect News Municipals Daily.
New Issue: Virginia prices $95.49 million of G.O. refunding bonds
By Sheri Kasprzak
New York, Feb. 16 - The Commonwealth of Virginia sold $95.49 million of series 2012A general obligation refunding bonds, according to a pricing sheet.
The bonds (Aaa//AAA) are due 2013 to 2025 with 2% to 5% coupons.
"The commonwealth's general obligation refunding bonds were awarded to J.P. Morgan [Securities LLC] with a winning TIC of 1.57874%," said Evelyn Whitley, debt manager for the state treasurer's office.
Proceeds will be used to refund the commonwealth's series 2002, 2003A, 2004A and 2005A G.O. bonds.
| Issuer: | Commonwealth of Virginia
|
| Issue: | Series 2012A general obligation refunding bonds
|
| Amount: | $95.49 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| True interest cost: | 1.57874%
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Pricing date: | Feb. 16
|
| Settlement date: | March 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,645,000 | 2013 | Serial | 3% | 103.51
|
| $12,835,000 | 2014 | Serial | 4% | 108.392
|
| $18,005,000 | 2015 | Serial | 4% | 111.655
|
| $7.14 million | 2016 | Serial | 5% | 118.964
|
| $2.31 million | 2017 | Serial | 5% | 122.75
|
| $2,335,000 | 2018 | Serial | 5% | 124.797
|
| $2,365,000 | 2019 | Serial | 5% | 126.805
|
| $2.39 million | 2020 | Serial | 5% | 127.99
|
| $2.41 million | 2021 | Serial | 5% | 129.272
|
| $2.43 million | 2022 | Serial | 4% | 120.89
|
| $21,005,000 | 2023 | Serial | 5% | 131.577
|
| $18,755,000 | 2024 | Serial | 5% | 133.049
|
| $865,000 | 2025 | Serial | 2% | 98.279
|
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