By Sheri Kasprzak
New York, Aug. 28 – The Kansas Department of Transportation priced $212,875,000 of series 2014B highway revenue refunding bonds, said a pricing sheet.
The bonds (Aa2/AAA/AA+) were sold through senior manager Barclays.
The deal included $37 million of series 2014B-1 bonds, $38,145,000 of series 2014B-2 bonds, $39.52 million of series 2014B-3 bonds, $49,945,000 of series 2014B-4 bonds and $48,265,000 of series 2014B-5 bonds.
The 2014B-1 bonds are due Sept. 1, 2015 and bear interest at 67% of one-month Libor plus 1 basis point.
The 2014B-2 bonds are due Sept. 1, 2016 and bear interest at 67% of one-month Libor plus 19 bps.
The 2014B-3 bonds are due Sept. 1, 2017 and bear interest at 67% of one-month Libor plus 24 bps.
The 2014B-4 bonds are due Sept. 1, 2018 and bear interest at 67% of one-month Libor plus 32 bps.
The 2014B-5 bonds are due Sept. 1, 2019 and bear interest at 67% of one-month Libor plus 40 bps.
Proceeds will be used to refund existing DOT revenue bonds.
| Issuer: | Kansas Department of Transportation
|
| Issue: | Series 2014B highway revenue refunding bonds
|
| Amount: | $212,875,000
|
| Type: | Negotiated
|
| Underwriter: | Barclays (lead)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AAA
|
| Fitch: AA+
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 28
|
|
|
| $37 million series 2014B-1 bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2015 | Term | 67% of one-month Libor plus 1 bp | 100
|
|
|
| $38,145,000 series 2014B-2 bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2016 | Term | 67% of one-month Libor plus 19 bps | 100
|
|
|
| $39.52 million series 2014B-3 bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2017 | Term | 67% of one-month Libor plus 24 bps | 100
|
|
|
| $49,945,000 series 2014B-4 bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2018 | Term | 67% of one-month Libor plus 32 bps | 100
|
|
|
| $48,265,000 series 2014B-5 bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2019 | Term | 67% of one-month Libor plus 40 bps | 100
|
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