By Sheri Kasprzak
New York, July 14 – The State of Colorado sold $115 million of series 2015A education loan program tax and revenue anticipation notes, according to a pricing sheet. The deal was downsized from $165 million.
The notes (MIG 1/SP-1+/) were sold competitively, but the issuer did not immediately respond to requests for the winning bidder.
The notes are due June 29, 2016 and have a 1.5% coupon priced at 101.132 to yield 0.29%.
Proceeds will be used to finance loans to certain school districts in the state to alleviate cash flow deficits for the coming fiscal year.
| Issuer: | State of Colorado
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| Issue: | Series 2015A education loan program tax and revenue anticipation notes
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| Amount: | $115 million
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| Maturity: | June 29, 2016
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| Coupon: | 1.5%
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| Price: | 101.132
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| Yield: | 0.29%
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| Type: | Competitive
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| Ratings: | Moody’s: MIG 1
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| Standard & Poor’s: SP-1+
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| Pricing date: | July 14
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| Settlement date: | July 21
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