By Sheri Kasprzak
New York, April 6 - Illinois priced $356 million in series 2010 taxable general obligation bonds on Tuesday, according to a term sheet.
The sale included $300 million in series 2010-2 Build America Bonds and $56 million in series of March 2010 taxable bonds.
The bonds (A2//A-) were sold competitively with J.P. Morgan Securities Inc. winning the bid.
The BABs are due 2011 to 2030 with a term bond due 2035. The serial coupons range from 1.45% and 6.75%, all priced at par. The 2035 bonds have a 6.9% coupon, priced at par.
The taxable bonds are due 2011 to 2030 with a term bond due 2035. The serial coupons range from 1.45% to 6.75%, all priced at par. The 2035 bonds have a 6.9% coupon, also priced at par.
The proceeds will be used to finance school district capital projects throughout the state.
| Issuer: | Illinois
|
| Issue: | Series 2010 taxable general obligation bonds
|
| Amount: | $356 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| Ratings: | Moody's: A2
|
| Fitch: A-
|
| Pricing date: | April 6
|
|
|
| Series 2010-2
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.45% | 100
|
| 2012 | Serial | 2.15% | 100
|
| 2013 | Serial | 3% | 100
|
| 2014 | Serial | 4% | 100
|
| 2015 | Serial | 4.35% | 100
|
| 2016 | Serial | 4.7% | 100
|
| 2017 | Serial | 5% | 100
|
| 2018 | Serial | 5.2% | 100
|
| 2019 | Serial | 5.45% | 100
|
| 2020 | Serial | 5.65% | 100
|
| 2021 | Serial | 5.75% | 100
|
| 2022 | Serial | 5.85% | 100
|
| 2023 | Serial | 5.95% | 100
|
| 2024 | Serial | 6.05% | 100
|
| 2025 | Serial | 6.15% | 100
|
| 2026 | Serial | 6.75% | 100
|
| 2027 | Serial | 6.75% | 100
|
| 2028 | Serial | 6.75% | 100
|
| 2029 | Serial | 6.75% | 100
|
| 2030 | Serial | 6.75% | 100
|
| 2035 | Term | 6.9% | 100
|
|
|
| Series of March 2010
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.45% | 100
|
| 2012 | Serial | 2.15% | 100
|
| 2013 | Serial | 3% | 100
|
| 2014 | Serial | 4% | 100
|
| 2015 | Serial | 4.35% | 100
|
| 2016 | Serial | 4.7% | 100
|
| 2017 | Serial | 5% | 100
|
| 2018 | Serial | 5.2% | 100
|
| 2019 | Serial | 5.45% | 100
|
| 2020 | Serial | 5.65% | 100
|
| 2021 | Serial | 5.75% | 100
|
| 2022 | Serial | 5.85% | 100
|
| 2023 | Serial | 5.95% | 100
|
| 2024 | Serial | 6.05% | 100
|
| 2025 | Serial | 6.15% | 100
|
| 2026 | Serial | 6.75% | 100
|
| 2027 | Serial | 6.75% | 100
|
| 2028 | Serial | 6.75% | 100
|
| 2029 | Serial | 6.75% | 100
|
| 2030 | Serial | 6.75% | 100
|
| 2035 | Term | 6.9% | 100
|
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