By Sheri Kasprzak
New York, Nov. 22 - The State of Wisconsin sold $200 million of series 2010 transportation revenue bonds on Monday, according to a pricing sheet.
The bonds were sold competitively with J.P. Morgan Securities LLC winning the 2010A bonds and Robert W. Baird & Co. Inc. winning the 2010B bonds. The true interest cost for the 2010A bonds was 2.569477%, and the TIC for the 2010B bonds was 3.731825% with the 35% subsidy, said David Erdman with the state's Capital Finance Office.
The sale included $76.075 million of series 2010A bonds and $123.925 million of series 2010B Build America Bonds.
The 2010A bonds are due 2012 to 2021 with 5% coupons across the board. The 2010B bonds are due 2022 to 2031 with coupons from 4.7% to 6%, all priced at par.
Proceeds will be used to finance transportation infrastructure projects.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2010 transportation revenue bonds
|
| Amount: | $200 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner for 2010A); Robert W. Baird & Co. Inc. (winner for 2010B)
|
| True interest cost: | 2.569477% (for 2010A); 3.731825% (for 2010B)
|
| Pricing date: | Nov. 22
|
| Settlement date: | Dec. 9
|
|
|
| $76.075 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.05 million | 2012 | Serial | 5% | 106.615
|
| $6.35 million | 2013 | Serial | 5% | 110.142
|
| $6.67 million | 2014 | Serial | 5% | 112.796
|
| $7 million | 2015 | Serial | 5% | 115.039
|
| $7.35 million | 2016 | Serial | 5% | 116.572
|
| $7.72 million | 2017 | Serial | 5% | 117.285
|
| $8.105 million | 2018 | Serial | 5% | 116.899
|
| $8.51 million | 2019 | Serial | 5% | 116.559
|
| $8.935 million | 2020 | Serial | 5% | 115.884
|
| $9.385 million | 2021 | Serial | 5% | 115.053
|
|
|
| $123.925 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $9.85 million | 2022 | Serial | 4.7% | 100
|
| $10.345 million | 2023 | Serial | 4.9% | 100
|
| $10.865 million | 2024 | Serial | 5.1% | 100
|
| $11.405 million | 2025 | Serial | 5.3% | 100
|
| $11.975 million | 2026 | Serial | 5.5% | 100
|
| $12.575 million | 2027 | Serial | 5.6% | 100
|
| $13.205 million | 2028 | Serial | 5.7% | 100
|
| $13.865 million | 2029 | Serial | 5.8% | 100
|
| $14.555 million | 2030 | Serial | 5.85% | 100
|
| $15.285 million | 2031 | Serial | 6% | 100
|
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