Published on 2/7/2013 in the Prospect News Municipals Daily.
New Issue: Connecticut brings $162.17 million revolving fund general revenue bonds
By Sheri Kasprzak
New York, Feb. 7 - The State of Connecticut sold $162.17 million of series 2013 state revolving fund general revenue bonds, said a pricing sheet.
The deal included $124,935,000 of series 2013A bonds and $37,235,000 of series 2013B bonds.
The 2013A bonds are due 2014 to 2031 with 1% to 5% coupons.
The 2013B bonds are due 2019 to 2027 with coupons from 2% to 5%.
The bonds were sold through BofA Merrill Lynch.
Proceeds will be used to make loans to qualified government entities as well as to refund existing debt.
| Issuer: | State of Connecticut
|
| Issue: | Series 2013 state revolving fund general revenue bonds
|
| Amount: | $162.17 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), Goldman Sachs & Co., Janney Montgomery Scott LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Baird & Co., Cabrera Capital Markets LLC, CastleOak Securities LP, Corby Capital Markets Inc., Estrada Hinojosa & Co. Inc., Jefferies & Co., Lebenthal & Co. LLC, Loop Capital Markets LLC, M.R. Beal & Co. Inc., Piper Jaffray & Co., Prager & Co. LLC, Rice Financial Products Co., Sterne, Agee & Leach Inc., TD Securities (USA) LLC, Wells Fargo Securities LLC and William Blair & Co. (co-manager)
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 21
|
|
|
| $124,935,000 series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3 million | 2014 | Serial | 1% | 100.872
|
| $500,000 | 2015 | Serial | 2% | 103.372
|
| $2 million | 2016 | Serial | 3% | 107.44
|
| $350,000 | 2017 | Serial | 2% | 105.276
|
| $2,745,000 | 2017 | Serial | 4% | 113.211
|
| $6.29 million | 2018 | Serial | 3% | 110.403
|
| $3.19 million | 2019 | Serial | 4% | 116.741
|
| $3.23 million | 2019 | Serial | 3% | 110.928
|
| $4,505,000 | 2020 | Serial | 2% | 104.207
|
| $4.69 million | 2021 | Serial | 5% | 126.119
|
| $7.37 million | 2022 | Serial | 5% | 127.221
|
| $6,495,000 | 2023 | Serial | 5% | 127.867
|
| $10,035,000 | 2024 | Serial | 5% | 126.823
|
| $9,555,000 | 2025 | Serial | 5% | 125.79
|
| $8,015,000 | 2026 | Serial | 5% | 125.072
|
| $7,435,000 | 2027 | Serial | 5% | 124.157
|
| $10.39 million | 2028 | Serial | 5% | 123.35
|
| $13,385,000 | 2029 | Serial | 5% | 122.749
|
| $11.81 million | 2030 | Serial | 5% | 122.25
|
| $9,945,000 | 2031 | Serial | 5% | 121.754
|
|
|
| $37,235,000 series 2013B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.57 million | 2019 | Serial | 5% | 123.342
|
| $7.53 million | 2020 | Serial | 5% | 125.095
|
| $1.8 million | 2021 | Serial | 3% | 110.749
|
| $1.53 million | 2022 | Serial | 3% | 110.022
|
| $2.13 million | 2024 | Serial | 2% | 98.494
|
| $5,845,000 | 2024 | Serial | 5% | 124.815
|
| $1.85 million | 2026 | Serial | 2.375% | 99.374
|
| $4,075,000 | 2026 | Serial | 5% | 123.378
|
| $4,905,000 | 2027 | Serial | 2.5% | 99.4
|
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