By Sheri Kasprzak
New York, Oct. 6 - The State of Minnesota sold on Tuesday $60.4 million of series 2009 911 revenue bonds through senior managers Jefferies & Co. and Piper Jaffray & Co.
The co-managers for the bonds (//AA-) were Cronin & Co. Inc. and Siebert Brandford Shank & Co. LLC.
The bonds are due 2010 to 2025 with coupons from 2% to 5%.
Proceeds will be used to fund the state's emergency radio infrastructure.
| Issuer: | State of Minnesota
|
| Issue: | Series 2009 911 revenue bonds
|
| Amount: | $60.4 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. and Piper Jaffray & Co. (lead), Cronin & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Rating: | Fitch: AA-
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 22
|
|
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | 100.756
|
| 2011 | Serial | 2% | 101.591
|
| 2011 | Serial | 4% | 104.773
|
| 2012 | Serial | 2.5% | 102.936
|
| 2013 | Serial | 3% | 104.709
|
| 2013 | Serial | 5% | 111.686
|
| 2014 | Serial | 3% | 104.605
|
| 2014 | Serial | 5% | 114.581
|
| 2015 | Serial | 3% | 104.090
|
| 2015 | Serial | 5% | 114.581
|
| 2016 | Serial | 4% | 109.401
|
| 2017 | Serial | 4% | 109.100
|
| 2017 | Serial | 5% | 115.944
|
| 2018 | Serial | 4% | 108.801
|
| 2019 | Serial | 4% | 108.552
|
| 2019 | Serial | 5% | 116.857
|
| 2020 | Serial | 3% | 99.278
|
| 2020 | Serial | 5% | 117.259
|
| 2021 | Serial | 5% | 117.654
|
| 2022 | Serial | 4.5% | 112.512
|
| 2023 | Serial | 3.25% | 99.019
|
| 2023 | Serial | 4.5% | 112.599
|
| 2024 | Serial | 4.5% | 112.456
|
| 2025 | Serial | 3.375% | 98.622
|
| 2025 | Serial | 4.5% | 112.072
|
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