By Sheri Kasprzak
New York, May 22 - The State of Wisconsin priced $209 million in series 2008C general fund annual appropriation bonds at an initial rate of Libor plus 110 basis points, said Frank Hoadley, the state's capital finance director.
The bonds (A1/A+/A+) are due May 2032 and the rate resets monthly.
The bonds were sold on a negotiated basis with Morgan Stanley, M.R. Beal & Co. and Siebert Brandford Shank & Co. as the underwriters.
The proceeds will be used to refund a portion of the state's series 2003 general fund annual appropriation bonds.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2008C general fund annual appropriation bonds
|
| Amount: | $209 million
|
| Type: | Negotiated
|
| Maturity: | May 2032
|
| Coupon: | Libor plus 110 bps (initial)
|
| Price: | Par
|
| Underwriters: | Morgan Stanley, M.R. Beal & Co. and Siebert Brandford Shank & Co.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | May 21
|
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