By Sheri Kasprzak
New York, Feb. 3 - The District of Columbia brought $82.61 million of series 2011 federal highway grant anticipation bonds Thursday, according to a term sheet.
The bonds (Aa2/AA/) were sold through Barclays Capital Inc. and Ramirez & Co. Inc. The co-managers were Cabrera Capital Markets LLC, J.P. Morgan Securities LLC, M.R. Beal & Co. Inc. and TD Securities (USA) LLC.
The bonds are due 2011 to 2025 with coupons from 2% to 5.25%.
Proceeds will be used to fund highway improvements ahead of the receipt of federal highway grants.
| Issuer: | District of Columbia
|
| Issue: | Series 2011 federal highway grant anticipation bonds
|
| Amount: | $81.46 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. and Ramirez & Co. Inc. (leads), Cabrera Capital Markets LLC, J.P. Morgan Securities LLC, M.R. Beal & Co. Inc. and TD Securities (USA) LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 16
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.835 million | 2011 | Serial | 2% | 101.223
|
| $4.14 million | 2012 | Serial | 4% | 105.588
|
| $4.33 million | 2013 | Serial | 5% | 110.167
|
| $3.375 million | 2014 | Serial | 3.5% | 106.353
|
| $1.15 million | 2014 | Serial | 5% | 111.831
|
| $2.725 million | 2015 | Serial | 3.5% | 106.019
|
| $1.985 million | 2015 | Serial | 5% | 112.810
|
| $3.725 million | 2016 | Serial | 3.5% | 105.468
|
| $1.175 million | 2016 | Serial | 3.875% | 107.479
|
| $2 million | 2017 | Serial | 4% | 106.606
|
| $3.105 million | 2017 | Serial | 5% | 112.725
|
| $5.355 million | 2018 | Serial | 5% | 112.028
|
| $3.5 million | 2019 | Serial | 3.75% | 101.646
|
| $2.105 million | 2019 | Serial | 5% | 111.022
|
| $5.87 million | 2020 | Serial | 5% | 110.159
|
| $2 million | 2021 | Serial | 4% | 100.559
|
| $4.16 million | 2021 | Serial | 5% | 108.621
|
| $6.475 million | 2022 | Serial | 5.25% | 109.023
|
| $6.825 million | 2023 | Serial | 5.25% | 107.603
|
| $7.195 million | 2024 | Serial | 5.25% | 106.450
|
| $7.58 million | 2025 | Serial | 5.25% | 105.474
|
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