By Sheri Kasprzak
New York, Dec. 1 - The State of Connecticut sold $455.075 million of series 2011 transportation infrastructure purposes special tax obligation bonds on Thursday, said a pricing sheet.
The sale included $221.23 million of series 2011A bonds and $233.845 million of series 2011B bonds.
The 2011A bonds are due 2013 to 2031 with 3.375% to 5% coupons. The 2011B bonds are due 2012 to 2022 with 2% to 5% coupons.
The bonds (Aa3/AA/AA) were sold through senior manager Goldman, Sachs & Co. The co-managers were Barclays Capital Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Siebert Brandford Shank & Co. LLC; Cabrera Capital Markets LLC; Corby Capital Markets Inc.; Jackson Securities Inc.; Jefferies & Co. Inc.; Loop Capital Markets LLC; and Morgan Keegan & Co. Inc.; Morgan Stanley & Co. LLC; Prager, Sealy & Co. LLC; Ramirez & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets LLC; Rice Financial Products Co.; Roosevelt & Cross Inc.; Sterne, Agee & Leach Inc.; and Wells Fargo Bank, NA.
Proceeds will be used to fund transportation infrastructure projects throughout the state as well as to refund existing debt.
| Issuer: | State of Connecticut
|
| Issue: | Series 2011 transportation infrastructure purposes special tax obligation bonds
|
| Amount: | $452.515 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead); Barclays Capital Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Siebert Brandford Shank & Co. LLC; Cabrera Capital Markets LLC; Corby Capital Markets Inc.; Jackson Securities Inc.; Jefferies & Co. Inc.; Loop Capital Markets LLC; and Morgan Keegan & Co. Inc.; Morgan Stanley & Co. LLC; Prager, Sealy & Co. LLC; Ramirez & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets LLC; Rice Financial Products Co.; Roosevelt & Cross Inc.; Sterne, Agee & Leach Inc.; and Wells Fargo Bank, NA (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 15
|
|
|
| $221.23 million series 2011A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.175 million | 2013 | Serial | 5% | 108.667
|
| $7.54 million | 2014 | Serial | 5% | 112.172
|
| $7.93 million | 2015 | Serial | 5% | 114.74
|
| $8.3 million | 2016 | Serial | 5% | 117.142
|
| $8.76 million | 2017 | Serial | 5% | 119.006
|
| $9.21 million | 2018 | Serial | 5% | 120.195
|
| $9.68 million | 2019 | Serial | 5% | 120.669
|
| $10.18 million | 2020 | Serial | 5% | 120.582
|
| $10.7 million | 2021 | Serial | 5% | 120.941
|
| $11.25 million | 2022 | Serial | 5% | 119.007
|
| $1.09 million | 2023 | Serial | 4% | 108.644
|
| $10.725 million | 2023 | Serial | 5% | 117.203
|
| $12.42 million | 2024 | Serial | 5% | 115.617
|
| $13.055 million | 2025 | Serial | 5% | 114.239
|
| $4.27 million | 2026 | Serial | 3.375% | 99.359
|
| $9.42 million | 2026 | Serial | 5% | 113.151
|
| $14.36 million | 2027 | Serial | 5% | 112.164
|
| $15.095 million | 2028 | Serial | 5% | 111.188
|
| $15.87 million | 2029 | Serial | 5% | 110.309
|
| $16.68 million | 2030 | Serial | 5% | 109.525
|
| $12.73 million | 2031 | Serial | 4% | 100
|
| $4.79 million | 2031 | Serial | 5% | 109.006
|
|
|
| $233.845 million series 2011B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $45.075 million | 2012 | Serial | 2% | 101.726
|
| $1.85 million | 2013 | Serial | 2% | 102.824
|
| $18.645 million | 2013 | Serial | 3% | 104.772
|
| $10.435 million | 2013 | Serial | 5% | 108.667
|
| $850,000 | 2014 | Serial | 2% | 103.415
|
| $325,000 | 2014 | Serial | 3% | 106.334
|
| $34.76 million | 2014 | Serial | 5% | 112.172
|
| $2.88 million | 2015 | Serial | 2% | 103.164
|
| $1.565 million | 2015 | Serial | 3% | 107.022
|
| $24.525 million | 2015 | Serial | 5% | 114.74
|
| $2.56 million | 2016 | Serial | 3% | 107.592
|
| $3.64 million | 2016 | Serial | 5% | 117.142
|
| $4.075 million | 2017 | Serial | 3% | 107.693
|
| $8.235 million | 2017 | Serial | 5% | 119.006
|
| $1.18 million | 2018 | Serial | 3% | 107.207
|
| $7.49 million | 2018 | Serial | 5% | 120.195
|
| $3.415 million | 2019 | Serial | 4% | 113.391
|
| $9 million | 2019 | Serial | 5% | 120.669
|
| $2.605 million | 2020 | Serial | 4% | 112.573
|
| $8.96 million | 2020 | Serial | 5% | 120.582
|
| $4.98 million | 2021 | Serial | 4% | 112.215
|
| $8.355 million | 2021 | Serial | 5% | 120.941
|
| $26.075 million | 2022 | Serial | 3% | 100.213
|
| $2.365 million | 2022 | Serial | 4% | 110.367
|
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