By Sheri Kasprzak
New York, Nov. 17 - The State of Hawaii sold $1,264,210,000 of series 2011 general obligation bonds, according to a pricing sheet.
The sale included $800 million of series 2011DZ G.O. bonds, $382.41 million of series 2011EA G.O. refunding bonds, $2.8 million of series 2011EB G.O. refunding bonds, $56 million of series 2011EC G.O. refunding bonds and $23 million of series 2011ED G.O. refunding bonds.
The 2011DZ bonds are due 2016 to 2031 with 3.5% to 5% coupons. The 2011EA bonds are due 2016 to 2023 with 2% to 5% coupons. The 2011EB bonds are due in 2012 and have a 2% coupon. The 2011EC bonds are due 2013 and have a split maturity with 2%, 3% and 5% coupons. The 2011ED bonds are due in 2015 and also have a split maturity with 2%, 3% and 5% coupons.
Bank of America Merrill Lynch and Goldman, Sachs & Co. were the senior managers for the offering. The co-managers were Barclays Capital Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC.
Proceeds will be used to finance capital expenditure and refund the state's series 2001CV, 2001CW, 2002CX, 2002CZ, 2003DA, 2003DB, 2004DD, 2004DE, 2005DF and 2006DI G.O. bonds.
| Issuer: | State of Hawaii
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $1,264,210,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Goldman, Sachs & Co. (lead), Barclays Capital Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (co-managers)
|
| Pricing date: | Nov. 17
|
| Settlement date: | Dec. 7
|
|
|
| $800 million series 2011DZ G.O. bonds
|
| Maturity | Type | Coupon
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 3.5%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 3.75%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5%
|
| 2030 | Serial | 4%
|
| 2030 | Serial | 5%
|
| 2031 | Serial | 4%
|
| 2031 | Serial | 5%
|
|
|
| $382.41 million series 2011EA G.O. refunding bonds
|
| Maturity | Type | Coupon
|
| 2016 | Serial | 2%
|
| 2016 | Serial | 4%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 2.25%
|
| 2017 | Serial | 4%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 2.5%
|
| 2018 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 3%
|
| 2019 | Serial | 4%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 3%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 3%
|
| 2021 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 3.25%
|
| 2022 | Serial | 4%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 3%
|
| 2023 | Serial | 5%
|
|
|
| $2.8 million series 2011EB G.O. refunding bonds
|
| Maturity | Type | Coupon
|
| 2012 | Term | 2%
|
|
|
| $56 million series 2011EC G.O. refunding bonds
|
| Maturity | Type | Coupon
|
| 2013 | Term | 2%
|
| 2013 | Term | 3%
|
| 2013 | Term | 5%
|
|
|
| $23 million series 2011ED G.O. refunding bonds
|
| Maturity | Type | Coupon
|
| 2015 | Term | 2%
|
| 2015 | Term | 3%
|
| 2015 | Term | 5%
|
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