By Sheri Kasprzak
New York, Oct. 6 - The State of Mississippi sold $353.73 million of series 2011A capital improvement projects general obligation bonds, according to a pricing sheet.
The bonds were sold through Morgan Stanley & Co. LLC and Bank of America Merrill Lynch.
The co-managers were Duncan-Williams Inc.; Morgan Keegan & Co. Inc.; Stephens Inc.; Crews & Associates Inc.; Kipling Jones & Co.; Jefferies & Co.; Loop Capital Markets LLC; and Mesirow Financial Inc.
The bonds are due 2027 to 2031 with two terms bond due in 2036. The serial coupons range from 3.5% to 5%. The 2036 bonds have a split maturity with a 4% coupon priced at 98.291 and a 5% coupon priced at 107.194.
Proceeds will fund improvements to the Jackson Zoo, the Ohr-O'Keefe Museum, the Children's Museum, the Craft Center, the R.H. Harrison Complex, the Bureau of State-Owned Buildings and state and community colleges.
| Issuer: | State of Mississippi
|
| Issue: | Series 2011A capital improvement projects general obligation bonds
|
| Amount: | $353.73 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Bank of America Merrill Lynch (lead); Duncan-Williams Inc.; Morgan Keegan & Co. Inc.; Stephens Inc.; Crews & Associates Inc.; Kipling Jones & Co.; Jefferies & Co.; Loop Capital Markets LLC; and Mesirow Financial Inc. (co-managers)
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 26
|
|
|
| Maturity | Type | Coupon | Price
|
| 2027 | Serial | 3.5% | 98.435
|
| 2027 | Serial | 5% | 111.334
|
| 2028 | Serial | 5% | 110.456
|
| 2029 | Serial | 5% | 109.673
|
| 2030 | Serial | 5% | 108.896
|
| 2031 | Serial | 3.75% | 96.853
|
| 2031 | Serial | 5% | 108.296
|
| 2036 | Term | 4% | 98.291
|
| 2036 | Term | 5% | 107.194
|
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