By Sheri Kasprzak
New York, Feb. 18 - The State of Illinois priced Thursday $1.435 billion in series 2010 general obligation refunding bonds, said pricing sheets.
The bonds (A2/A+/A) were sold through senior managers Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. The co-managers include PNC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Grigsby & Associates Inc., Melvin & Co., Ramirez & Co. Inc. and Ross, Sinclaire & Associates LLC.
The sale included bonds insured by Assurance Guaranty Municipal and some uninsured bonds.
The uninsured bonds are due 2011 to 2025 with 2% to 5% coupons. The AGM-insured bonds are due 2015 to 2023 with 3% to 5% coupons.
Proceeds will be used to refund existing G.O. bonds.
| Issuer: | State of Illinois
|
| Issue: | Series 2010 general obligation refunding bonds
|
| Amount: | $1.435 billion
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. (leads); PNC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Grigsby & Associates Inc., Melvin & Co., Ramirez & Co. Inc. and Ross, Sinclaire & Associates LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | Feb. 18
|
| Settlement date: | March 3
|
|
|
| Series 2010 refunding bonds (uninsured)
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | NRO
|
| 2012 | Serial | 2% | 101.314
|
| 2012 | Serial | 5% | 106.716
|
| 2013 | Serial | 4% | 106.264
|
| 2014 | Serial | 2.5% | 101.351
|
| 2014 | Serial | 4% | 110.493
|
| 2015 | Serial | 3% | 101.756
|
| 2015 | Serial | 5% | 110.771
|
| 2016 | Serial | 5% | 110.110
|
| 2017 | Serial | 3% | 109.352
|
| 2017 | Serial | 5% | 109.352
|
| 2018 | Serial | 5% | 108.618
|
| 2019 | Serial | 5% | 107.988
|
| 2020 | Serial | 5% | 107.465
|
| 2021 | Serial | 4.125% | 99.348
|
| 2021 | Serial | 5% | NRO
|
| 2022 | Serial | 5% | NRO
|
| 2023 | Serial | 5% | NRO
|
| 2024 | Serial | 4% | NRO
|
| 2024 | Serial | 5% | NRO
|
| 2025 | Serial | 5% | NRO
|
|
|
| Series 2010 refunding bonds (insured)
|
| Maturity | Type | Coupon | Price
|
| 2015 | Serial | 5% | 111.251
|
| 2016 | Serial | 3% | 100.156
|
| 2016 | Serial | 5% | 110.785
|
| 2017 | Serial | 5% | 109.991
|
| 2018 | Serial | 3.6% | 99.861
|
| 2018 | Serial | 5% | 109.328
|
| 2019 | Serial | 5% | 108.766
|
| 2020 | Serial | 4% | 100.237
|
| 2020 | Serial | 5% | 108.308
|
| 2021 | Serial | 5% | NRO
|
| 2022 | Serial | 4% | 98.145
|
| 2023 | Serial | 4.25% | 99.701
|
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