By Sheri Kasprzak
New York, Nov. 7 - The State of California priced $300 million of series 2013 index floating-rate general obligation bonds, according to a pricing sheet.
The offering included $100 million of series 2013C bonds, $100 million of series 2013D bonds and $100 million of series 2013E bonds.
The 2013C bonds are due 2028 and bear interest at one-month Libor plus 61 bps.
The 2013D bonds are due 2028 and bear interest at one-month Libor plus 1 bps.
The 2013E bonds are due 2029 and bear interest at one-month Libor plus 1 bps.
The bonds (A1/A/A) were sold on a negotiated basis. BofA Merrill Lynch was the senior manager for the 2013C bonds, Morgan Stanley & Co. LLC was the lead manager for the 2013D bonds, and Wells Fargo Securities LLC was the lead manager for the 2013E bonds.
Proceeds will be used to finance capital expenditures for the state.
Issuer: | State of California
|
Issue: | Series 2013 index floating-rate general obligation bonds
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Amount: | $300 million
|
Type: | Negotiated
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Underwriters: | BofA Merrill Lynch (lead for 2013C), Morgan Stanley & Co. LLC (lead for 2013D), Wells Fargo Securities LLC (lead for 2013E)
|
Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A
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Pricing date: | Nov. 7
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Settlement date: | Nov. 14
|
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$100 million series 2013C bonds
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Maturity | Type | Coupon | Price
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Dec. 1, 2028 | Term | One-month Libor plus 61 bps | 100
|
|
$100 million series 2013D bonds
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Maturity | Type | Coupon | Price
|
Dec. 1, 2028 | Term | One-month Libor plus 1 bps | 100
|
|
$100 million series 2013E bonds
|
Maturity | Type | Coupon | Price
|
Dec. 1, 2029 | Term | One-month Libor plus 1 bps | 100
|
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