Published on 7/11/2012 in the Prospect News Municipals Daily.
New Issue: Wisconsin prices $147.45 million of clean water revenue bonds
By Sheri Kasprzak
New York, July 11 - The State of Wisconsin sold $147.45 million of series 2012 clean water revenue bonds, according to a pricing sheet.
The offering includes $55 million of series 2012-1 clean water revenue bonds and $92.45 million of series 2012-2 clean water revenue refunding bonds.
The 2012-1 bonds are due 2014 to 2033 with 2% to 5% coupons. The 2012-2 bonds are due 2015 to 2024 with coupons from 2.625% to 5%.
The bonds were sold through J.P. Morgan Securities LLC and Ramirez & Co. Inc. The co-managers were BMO Capital Markets LLC, Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co. and Jefferies & Co.
Proceeds will be used to make pledged loans to municipalities for the construction of improvements to wastewater treatment facilities, as well as refund existing debt.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2012 clean water revenue bonds
|
| Amount: | $147.45 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Ramirez & Co. Inc. (lead), BMO Capital Markets LLC, Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co. and Jefferies & Co. (co-managers)
|
| Pricing date: | July 11
|
| Settlement date: | July 26
|
|
|
| $55 million series 2012-1 clean water revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,945,000 | 2014 | Serial | 2% | 102.904
|
| $1.98 million | 2015 | Serial | 3% | 106.852
|
| $2.04 million | 2016 | Serial | 3% | 108.595
|
| $2,105,000 | 2017 | Serial | 3% | 109.588
|
| $2,165,000 | 2018 | Serial | 4% | 115.58
|
| $2.25 million | 2019 | Serial | 4% | 116.35
|
| $2.34 million | 2020 | Serial | 4% | 116.748
|
| $2,435,000 | 2021 | Serial | 4% | 116.67
|
| $2,535,000 | 2022 | Serial | 4% | 117.208
|
| $2,635,000 | 2023 | Serial | 5% | 124.065
|
| $2,765,000 | 2024 | Serial | 5% | 122.482
|
| $2,905,000 | 2025 | Serial | 5% | 121.31
|
| $3.05 million | 2026 | Serial | 5% | 120.439
|
| $3,205,000 | 2027 | Serial | 5% | 119.576
|
| $3,365,000 | 2028 | Serial | 5% | 118.816
|
| $3.53 million | 2029 | Serial | 5% | 118.155
|
| $3,705,000 | 2030 | Serial | 5% | 117.498
|
| $3,895,000 | 2031 | Serial | 5% | 116.846
|
| $4,085,000 | 2032 | Serial | 5% | 116.198
|
| $2,065,000 | 2033 | Serial | 5% | 115.554
|
|
|
| $92.45 million series 2012-2 clean water revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.5 million | 2015 | Serial | 5% | 112.492
|
| $4.73 million | 2016 | Serial | 5% | 116.169
|
| $9,305,000 | 2017 | Serial | 5% | 119.035
|
| $9,825,000 | 2018 | Serial | 5% | 121.205
|
| $10,335,000 | 2019 | Serial | 5% | 122.839
|
| $10.86 million | 2020 | Serial | 5% | 124.061
|
| $5 million | 2021 | Serial | 2.625% | 105.542
|
| $6.42 million | 2021 | Serial | 5% | 124.764
|
| $11.89 million | 2022 | Serial | 5% | 126.079
|
| $12,495,000 | 2023 | Serial | 5% | 125.786
|
| $7.09 million | 2024 | Serial | 5% | 125.611
|
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