By Aaron Hochman-Zimmerman
New York, July 14 - The State of Washington priced $765.115 million in three tranches of general obligation bonds, according to Chris McGann, a spokesman for the state treasurer.
The $298.8 million series 2010A various purpose general obligation bonds priced at a true interest cost of 4.43%. The bonds carry maturities from 2017 to 2034.
The $401.41 million series 2010B motor vehicle fuel tax general obligation bonds priced at a true interest cost of 4.275%. The bonds carry maturities from 2010 to 2034.
The $64.905 million 2010T taxable general obligation bonds priced at a true interest cost of 3.003%. The bonds carry maturities from 2010 to 2016.
J.P. Morgan Securities Inc. won the auctions for all three tranches which saw six, six and 16 bidders, respectively. Montague DeRose & Associates LLC acted as financial advisor.
Proceeds from the sales will be used for general capital expenditures, affordable housing, transportation, environmental and agricultural projects.
Issuer: State of Washington
| Amount: | $765.115 million
|
| Underwriters: | J.P. Morgan Securities Inc.
|
| Type: | Competitive
|
| Pricing date: | July 14
|
|
|
| Series 2010A
|
| Issue: | Series 2010A various purpose general obligation bonds
|
| Amount: | $298.8 million
|
| Maturity: | 2017 to 2034
|
| True interest cost: | 4.43%
|
|
|
| Series 2010B
|
| Issue: | Series 2010B motor vehicle fuel tax general obligation bonds
|
| Amount: | $401.41 million
|
| Maturity: | 2010 to 2034
|
| True interest cost: | 4.275%
|
|
|
| Series 2010T
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| Issue: | Series 2010T taxable general obligation bonds
|
| Amount: | $64.905million
|
| Maturity: | 2010 to 2016
|
| True interest cost: | 3.003%
|
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