Published on 2/24/2016 in the Prospect News Municipals Daily.
New Issue: Wisconsin prices $295.19 million G.O. bonds competitively
By Sheri Kasprzak
New York, Feb. 24 – The State of Wisconsin sold $295,185,000 of series 2016A general obligation bonds on Wednesday, according to a pricing sheet.
The bonds (AA) were sold competitively. BofA Merrill Lynch won the bid at a 3.236502% true interest cost.
The bonds are due 2024 to 2036 with 5% coupons and yields from 1.63% to 2.64%.
Proceeds will be used for governmental purposes and to fund a portion of the state’s outstanding G.O. extendible municipal commercial paper notes.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2016A general obligation bonds
|
| Amount: | $295,185,000
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| True interest cost: | 3.236502%
|
| Rating: | Standard & Poor’s: AA
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 16
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $13.52 million | 2024 | Serial | 5% | 125.546 | 1.63%
|
| $14.08 million | 2025 | Serial | 5% | 127.007 | 1.78%
|
| $14,875,000 | 2026 | Serial | 5% | 125.761 | 1.91%
|
| $12,265,000 | 2027 | Serial | 5% | 124.623 | 2.03%
|
| $12.92 million | 2028 | Serial | 5% | 123.965 | 2.10%
|
| $13.62 million | 2029 | Serial | 5% | 123.217 | 2.18%
|
| $14.39 million | 2030 | Serial | 5% | 122.291 | 2.28%
|
| $15,185,000 | 2031 | Serial | 5% | 121.464 | 2.37%
|
| $36,285,000 | 2032 | Serial | 5% | 120.463 | 2.48%
|
| $38.13 million | 2033 | Serial | 5% | 120.281 | 2.50%
|
| $40,095,000 | 2034 | Serial | 5% | 119.92 | 2.54%
|
| $42.23 million | 2035 | Serial | 5% | 119.471 | 2.59%
|
| $27.59 million | 2036 | Serial | 5% | 119.023 | 2.64%
|
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