By Sheri Kasprzak
New York, Nov. 2 - The State of Connecticut priced Wednesday $700.82 million of series 2011 general obligation bonds, according to a pricing sheet.
The deal included $550 million of series 2011D G.O. bonds and $150.82 million of series 2011E G.O. refunding bonds.
The 2011D bonds are due 2012 to 2031 with 1.5% to 5% coupons. The 2011E bonds are due 2012 to 2016 with a term bond due in 2019. The serial coupons range from 1% to 5%. The 2019 bond has a 5% coupon priced at 120.351.
The bonds were sold through J.P. Morgan Securities LLC. The co-managers were Barclays Capital Markets Inc.; Morgan Stanley & Co. LLC; Ramirez & Co. Inc.; RBC Capital Markets LLC; Bank of America Merrill Lynch; Blaylock Robert Van LLC; Citigroup Global Markets Inc.; Corby Capital Markets Inc., Estrada Hinojosa & Co. Inc.; Goldman, Sachs & Co.; Jefferies & Co.; Morgan Keegan & Co. Inc.; M.R. Beal & Co.; Raymond James & Associates Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Stern, Agee & Leach Inc.; Wells Fargo Bank, NA; and William Blair & Co.
Proceeds will fund capital projects and refund the state's series 2001E bonds.
| Issuer: | State of Connecticut
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $700.82 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead); Barclays Capital Markets Inc.; Morgan Stanley & Co. LLC; Ramirez & Co. Inc.; RBC Capital Markets LLC; Bank of America Merrill Lynch; Blaylock Robert Van LLC; Citigroup Global Markets Inc.; Corby Capital Markets Inc., Estrada Hinojosa & Co. Inc.; Goldman Sachs & Co.; Jefferies & Co.; Morgan Keegan & Co. Inc.; M.R. Beal & Co.; Raymond James & Associates Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Stern, Agee & Leach Inc.; Wells Fargo Bank, NA; and William Blair & Co. (co-managers)
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 14
|
|
|
| $550 million series 2011D G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $27.5 million | 2012 | Serial | 1.5% | 101.231
|
| $4.77 million | 2013 | Serial | 2% | 103.047
|
| $2.48 million | 2013 | Serial | 3% | 105
|
| $20.25 million | 2013 | Serial | 5% | 108.906
|
| $5 million | 2014 | Serial | 1.5% | 102.312
|
| $5.185 million | 2014 | Serial | 2% | 103.776
|
| $5.775 million | 2014 | Serial | 3% | 106.704
|
| $11.54 million | 2014 | Serial | 5% | 112.559
|
| $4.43 million | 2016 | Serial | 2% | 102.818
|
| $14.61 million | 2016 | Serial | 3% | 107.596
|
| $8.46 million | 2016 | Serial | 5% | 117.152
|
| $5.22 million | 2017 | Serial | 2% | 101.979
|
| $5.57 million | 2017 | Serial | 3% | 107.637
|
| $16.71 million | 2017 | Serial | 5% | 118.952
|
| $3.965 million | 2018 | Serial | 2% | 100.388
|
| $4.17 million | 2018 | Serial | 3% | 106.873
|
| $39.165 million | 2018 | Serial | 5% | 119.842
|
| $3.765 million | 2019 | Serial | 2.25% | 100.363
|
| $8.215 million | 2019 | Serial | 4% | 113.082
|
| $40.22 million | 2019 | Serial | 5% | 120.351
|
| $5.935 million | 2020 | Serial | 3% | 104.401
|
| $7.495 million | 2020 | Serial | 4% | 112.405
|
| $14.07 million | 2020 | Serial | 5% | 120.409
|
| $5.135 million | 2021 | Serial | 3% | 103.579
|
| $10.57 million | 2021 | Serial | 4% | 112.312
|
| $11.795 million | 2021 | Serial | 5% | 121.044
|
| $5.1 million | 2022 | Serial | 3% | 102.34
|
| $22.4 million | 2022 | Serial | 5% | 119.684
|
| $27.5 million | 2023 | Serial | 5% | 118.153
|
| $38 million | 2024 | Serial | 5% | 116.832
|
| $27.5 million | 2025 | Serial | 5% | 115.714
|
| $2.055 million | 2026 | Serial | 3.25% | 99.881
|
| $25.445 million | 2026 | Serial | 5% | 114.7
|
| $27.5 million | 2027 | Serial | 5% | 113.697
|
| $27.5 million | 2028 | Serial | 5% | 112.794
|
| $4.72 million | 2030 | Serial | 3.625% | 99.794
|
| $22.78 million | 2030 | Serial | 5% | 111.279
|
| $27.5 million | 2031 | Serial | 5% | 110.662
|
|
|
| $150.82 million series 2011E G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $11.77 million | 2012 | Serial | 1% | 100.38
|
| $55.545 million | 2012 | Serial | 1.5% | 101.231
|
| $22.86 million | 2013 | Serial | 5% | 108.906
|
| $21.205 million | 2014 | Serial | 5% | 112.559
|
| $19.73 million | 2015 | Serial | 5% | 115.212
|
| $17.1 million | 2016 | Serial | 5% | 117.152
|
| $2.61 million | 2019 | Term | 5% | 120.351
|
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