By Sheri Kasprzak
New York, May 13 - The state of Hawaii priced $429.01 million in series 2008 general obligation bonds on Monday, an official statement said.
The bonds (Aa2/AA/AA) were sold on a negotiated basis with Citigroup Global Markets and UBS Investment Bank as the senior managers.
The sale included $375 million in series DK bonds, $29.01 million in series DL bonds and $25 million in series DM bonds.
The DK bonds are due from 2012 to 2028 with coupons from 3% to 5%, the DL bonds are due from 2012 to 2018 with coupons from 3% to 5% and the DM bonds are due from 2009 to 2014 with coupons from 3.33% to 4.67%. The DM bonds are all priced at par.
Proceeds will be used to refund the state's outstanding series 1997 general obligation bonds.
| Issuer: | Hawaii
|
| Issue: | Series 2008 general obligation bonds
|
| Amount: | $429.01 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets and UBS Investment Bank (lead)
|
| Ratings: | Moody's: Aa2
|
| S&P: AA
|
| Fitch: AA
|
| Pricing date: | May 12
|
|
|
| Series DK bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 99.777
|
| 2012 | Serial | 5% | 107.16
|
| 2013 | Serial | 3.5% | 101.452
|
| 2013 | Serial | 5% | 108.268
|
| 2014 | Serial | 5% | 109.11
|
| 2015 | Serial | 3.75% | 101.899
|
| 2015 | Serial | 5% | 109.565
|
| 2016 | Serial | 5% | 109.671
|
| 2017 | Serial | 5% | 109.504
|
| 2018 | Serial | 5% | 109.254
|
| 2019 | Serial | 4% | 100.079
|
| 2019 | Serial | 4.25% | 102.115
|
| 2020 | Serial | 4.1% | 100.00
|
| 2020 | Serial | 5% | 107.289
|
| 2021 | Serial | 4.2% | 100.00
|
| 2022 | Serial | 4.25% | 99.685
|
| 2022 | Serial | 5% | 105.78
|
| 2023 | Serial | 4.3% | 99.452
|
| 2023 | Serial | 5% | 105.20
|
| 2024 | Serial | 4.375% | 99.713
|
| 2024 | Serial | 5% | 104.789
|
| 2025 | Serial | 4.4% | 99.524
|
| 2025 | Serial | 5% | 104.461
|
| 2026 | Serial | 4.4% | 99.018
|
| 2026 | Serial | 5% | 104.134
|
| 2027 | Serial | 4.5% | 99.744
|
| 2027 | Serial | 5% | 103.808
|
| 2028 | Serial | 4.5% | 99.087
|
| 2028 | Serial | 5% | 103.403
|
|
|
| Series DM bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 99.777
|
| 2013 | Serial | 3.5% | 101.452
|
| 2014 | Serial | 3.25% | 99.73
|
| 2015 | Serial | 3.75% | 101.899
|
| 2016 | Serial | 3.5% | 99.381
|
| 2017 | Serial | 3.7% | 99.696
|
| 2018 | Serial | 5% | 109.254
|
|
|
| Series DM bonds
|
| Maturity | Type | Coupon | Price
|
| 2009 | Serial | 3.33% | 100.00
|
| 2010 | Serial | 3.68% | 100.00
|
| 2011 | Serial | 4.01% | 100.00
|
| 2012 | Serial | 4.26% | 100.00
|
| 2013 | Serial | 4.46% | 100.00
|
| 2014 | Serial | 4.67% | 100.00
|
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