Published on 5/20/2014 in the Prospect News Municipals Daily.
New Issue: Connecticut offers up $822.38 million of upsized G.O. refunding bonds
By Sheri Kasprzak
New York, May 20 - The State of Connecticut sold $822.38 million of series 2014C general obligation refunding bonds, according to a pricing sheet. The deal was upsized from $650 million.
The bonds were sold through Morgan Stanley & Co. LLC.
The bonds are due 2014 to 2025 with 1% to 5% coupons.
Proceeds will be used to refund state's series 2004B and 2005C-D G.O. bonds.
| Issuer: | State of Connecticut
|
| Issue: | Series 2014C general obligation refunding bonds
|
| Amount: | $822.38 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Barclays, Loop Capital Markets LLC, Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Baird & Co., Cabrera Capital Markets LLC, CastleOak Securities LP, Citigroup Global Markets Inc., Edward D. Jones & Co. LP, Janney Montgomery Scott LLC, Prager & Co. LLC, Rice Financial Products Co., Siebert Brandford Shank & Co. LLC, Sterne, Agee & Leach Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC, Williams Capital Group LP and William Blair & Co. (co-managers)
|
| Pricing date: | May 20
|
| Settlement date: | June 4
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $90.16 million | 2014 | Serial | 1% | 100.498
|
| $81,765,000 | 2015 | Serial | 2% | 101.925
|
| $65,315,000 | 2015 | Serial | 5% | 107.139
|
| $30 million | 2015 | Serial | 3% | 104.088
|
| $605,000 | 2016 | Serial | 2.5% | 104.159
|
| $435,000 | 2016 | Serial | 3% | 106.2
|
| $71.35 million | 2016 | Serial | 4% | 107.188
|
| $102.41 million 2016 | Serial | 5% | 111.221
|
| $1,535,000 | 2017 | Serial | 2% | 103.677
|
| $905,000 | 2017 | Serial | 3% | 107.353
|
| $47,825,000 | 2017 | Serial | 5% | 112.646
|
| $47,175,000 | 2017 | Serial | 5% | 114.2911
|
| $3,145,000 | 2018 | Serial | 2.5% | 105.504
|
| $1.4 million | 2018 | Serial | 3% | 107.913
|
| $42.11 million | 2018 | Serial | 5% | 115.334
|
| $30 million | 2018 | Serial | 5% | 116.707
|
| $4.58 million | 2019 | Serial | 2.5% | 104.799
|
| $25,655,000 | 2019 | Serial | 5% | 117.268
|
| $7,115,000 | 2019 | Serial | 5% | 117.984
|
| $4,545,000 | 2020 | Serial | 3% | 107.043
|
| $41,125,000 | 2020 | Serial | 5% | 118.775
|
| $7,055,000 | 2020 | Serial | 5% | 119.292
|
| $2,085,000 | 2021 | Serial | 2.5% | 103.33
|
| $10.18 million | 2021 | Serial | 5% | 119.656
|
| $11.48 million | 2021 | Serial | 5% | 120.178
|
| $3.65 million | 2022 | Serial | 3% | 105.707
|
| $8,495,000 | 2022 | Serial | 5% | 120.344
|
| $11,345,000 | 2022 | Serial | 5% | 120.718
|
| $350,000 | 2023 | Serial | 3% | 104.927
|
| $11,235,000 | 2023 | Serial | 5% | 121.556
|
| $11,655,000 | 2023 | Serial | 5% | 121.086
|
| $885,000 | 2024 | Serial | 3% | 104.411
|
| $11,005,000 | 2024 | Serial | 5% | 122.057
|
| $11.1 million | 2024 | Serial | 5% | 122.5
|
| $1.31 million | 2025 | Serial | 2.5% | 98.951
|
| $10,445,000 | 2025 | Serial | 5% | 122.778
|
| $10.95 million | 2025 | Serial | 5% | 123.104
|
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