Published on 2/16/2012 in the Prospect News Municipals Daily.
New Issue: Commonwealth Transportation Board, Va., prices $297.59 million notes
By Sheri Kasprzak
New York, Feb. 16 - The Commonwealth Transportation Board of Virginia sold $297.59 million of series 2012A federal transportation grant anticipation revenue notes, according to a pricing sheet.
The bonds (Aa1/AA/AA) were sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager.
The bonds are due 2012 to 2027 with 2% to 5% coupons.
Proceeds will be used to finance transportation projects in the commonwealth.
| Issuer: | Commonwealth Transportation Board
|
| Issue: | Series 2012A federal transportation grant anticipation revenue notes
|
| Amount: | $297.59 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Feb. 16
|
| Settlement date: | March 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6,345,000 | 2012 | Serial | 3% | 101.529
|
| $7,065,000 | 2013 | Serial | 2% | 102.654
|
| $6.96 million | 2013 | Serial | 3% | 102.914
|
| $595,000 | 2014 | Serial | 3% | 106.43
|
| $7,135,000 | 2014 | Serial | 4% | 107.366
|
| $6,685,000 | 2014 | Serial | 5% | 111.473
|
| $375,000 | 2015 | Serial | 2% | 104.679
|
| $7,455,000 | 2015 | Serial | 5% | 113.294
|
| $7,265,000 | 2015 | Serial | 5% | 115.155
|
| $7.83 million | 2016 | Serial | 4% | 112.99
|
| $7,985,000 | 2016 | Serial | 5% | 118.782
|
| $3,115,000 | 2017 | Serial | 2% | 105.609
|
| $3.45 million | 2017 | Serial | 4% | 116.536
|
| $4.89 million | 2017 | Serial | 5% | 121.922
|
| $5.07 million | 2017 | Serial | 5% | 120.372
|
| $275,000 | 2018 | Serial | 2% | 104.706
|
| $8.74 million | 2018 | Serial | 5% | 123.403
|
| $8.26 million | 2018 | Serial | 5% | 122.136
|
| $875,000 | 2019 | Serial | 2% | 103.262
|
| $3,265,000 | 2019 | Serial | 4% | 116.931
|
| $8,295,000 | 2019 | Serial | 5% | 124.537
|
| $5,695,000 | 2019 | Serial | 5% | 123.597
|
| $9.62 million | 2020 | Serial | 4% | 117.253
|
| $9,385,000 | 2020 | Serial | 5% | 124.611
|
| $730,000 | 2021 | Serial | 2% | 99.74
|
| $9.81 million | 2021 | Serial | 5% | 124.88
|
| $9,325,000 | 2021 | Serial | 5% | 125.637
|
| $10,295,000 | 2022 | Serial | 4.5% | 121.016
|
| $10.53 million | 2022 | Serial | 5% | 126.423
|
| $11.06 million | 2023 | Serial | 5% | 126.761
|
| $10.79 million | 2023 | Serial | 5% | 125.966
|
| $11.34 million | 2024 | Serial | 5% | 127.044
|
| $11.62 million | 2024 | Serial | 5% | 128.008
|
| $125,000 | 2025 | Serial | 2.5% | 98.572
|
| $11.79 million | 2025 | Serial | 4% | 115.038
|
| $12.15 million | 2025 | Serial | 5% | 128.696
|
| $12,455,000 | 2026 | Serial | 4% | 114.727
|
| $12,705,000 | 2026 | Serial | 4% | 115.155
|
| $530,000 | 2027 | serial | 2.625% | 98.302
|
| $12,955,000 | 2027 | Serial | 5% | 128.991
|
| $12.75 million | 2027 | Serial | 5% | 129.771
|
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