Published on 10/10/2013 in the Prospect News Municipals Daily.
New Issue: Wisconsin brings $584.48 million of general obligation refunding bonds
By Sheri Kasprzak
New York, Oct. 10 - The State of Wisconsin priced $584,475,000 of series 2013-2014 general obligation refunding bonds, according to a pricing sheet.
The deal includes $402,715,000 of series 2013-1 G.O. refunding bonds and $181.76 million of series 2014-1 G.O. refunding bonds.
The bonds (/AA/AA) were sold through senior managers Citigroup Global Markets Inc. and Ramirez & Co. Inc.
The 2013-1 bonds are due 2016 to 2033 with 2% to 5% coupons. The 2014-1 bonds are due 2015 to 2020 with 5% coupons.
Proceeds will be used to advance and current refund existing G.O. debt.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2013-2014 general obligation refunding bonds
|
| Amount: | $584,475,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Ramirez & Co. Inc. (lead), BofA Merrill Lynch, M.R. Beal & Co., BMO Capital Markets Inc., J.P. Morgan Securities LLC, Jefferies & Co., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Oct. 10
|
| Settlement date: | Nov. 7
|
|
|
| $402,715,000 series 2013-1 G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2 million | 2016 | Serial | 3% | 105.779
|
| $5 million | 2017 | Serial | 2% | 103.554
|
| $14,275,000 | 2017 | Serial | 5% | 113.807
|
| $5 million | 2018 | Serial | 2% | 102.774
|
| $21,305,000 | 2018 | Serial | 5% | 115.779
|
| $5 million | 2019 | Serial | 3% | 106.616
|
| $26.15 million | 2019 | Serial | 5% | 117.035
|
| $1.11 million | 2020 | Serial | 3% | 105.677
|
| $41.94 million | 2020 | Serial | 5% | 117.757
|
| $565,000 | 2021 | Serial | 3% | 104.226
|
| $44.72 million | 2021 | Serial | 5% | 117.862
|
| $275,000 | 2022 | Serial | 4% | 110.355
|
| $47,345,000 | 2022 | Serial | 5% | 117.915
|
| $1.5 million | 2023 | Serial | 4% | 109.758
|
| $57.92 million | 2023 | Serial | 5% | 118.028
|
| $8.55 million | 2024 | Serial | 4% | 108.286
|
| $39,245,000 | 2024 | Serial | 5% | 116.49
|
| $250,000 | 2025 | Serial | 4% | 107.005
|
| $43,865,000 | 2025 | Serial | 5% | 115.152
|
| $10,805,000 | 2026 | Serial | 5% | 113.745
|
| $11,345,000 | 2027 | Serial | 5% | 112.273
|
| $3,375,000 | 2030 | Serial | 5% | 109.063
|
| $3,545,000 | 2031 | Serial | 5% | 108.402
|
| $3.72 million | 2032 | Serial | 5% | 107.745
|
| $830,000 | 2033 | Serial | 4.125% | 99.008
|
| $3.08 million | 2033 | Serial | 5% | 107.255
|
|
|
| $181.76 million series 2014-1 G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.5 million | 2015 | Serial | 5% | 105.382
|
| $66,455,000 | 2016 | Serial | 5% | 109.03
|
| $43,335,000 | 2017 | Serial | 5% | 111.942
|
| $16.48 million | 2018 | Serial | 5% | 113.798
|
| $33.88 million | 2019 | Serial | 5% | 114.855
|
| $18.11 million | 2020 | Serial | 5% | 115.548
|
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