Published on 5/1/2012 in the Prospect News Municipals Daily.
New Issue: Illinois sells $1.79 billion of G.O. refunding bonds
By Sheri Kasprzak
New York, May 1 - The State of Illinois brought $1,791,440,000 of series May of 2012 general obligation refunding bonds, said a pricing sheet.
The bonds (A2/A+/A) were sold through senior manager Jefferies & Co. and BMO Capital Markets LLC. The co-managers were Duncan-Williams Inc., Rice Financial Products Co., M.R. Beal & Co., Piper Jaffray & Co., PNC Capital Markets LLC, William Blair & Co. Inc., City Securities Corp., Edward D. Jones & Co. LP, Estrada Hinojosa & Co., Janney Montgomery Scott LLC, Podesta & Co. and Williams Capital Group LP.
The bonds are due 2013 to 2025 with 1.6% to 5% coupons.
Proceeds will be used to refund existing G.O. debt.
Issuer: | State of Illinois
|
Issue: | Series May of 2012 general obligation refunding bonds
|
Amount: | $1,791,440,000
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Type: | Negotiated
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Underwriters: | Jefferies & Co. and BMO Capital Markets LLC (lead), Duncan-Williams Inc., Rice Financial Products Co., M.R. Beal & Co., Piper Jaffray & Co., PNC Capital Markets LLC, William Blair & Co. Inc., City Securities Corp., Edward D. Jones & Co. LP, Estrada Hinojosa & Co., Janney Montgomery Scott LLC, Podesta & Co. and Williams Capital Group LP (co-managers)
|
Ratings: | Moody's: A2
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Standard & Poor's: A+
|
Fitch: A
|
Pricing date: | May 1
|
Settlement date: | May 8
|
|
Amount | Maturity | Type | Coupon | Price
|
$127.96 million | 2013 | Serial | 2% | 100.835
|
$127.96 million | 2013 | Serial | 3% | 102.414
|
$25 million | 2014 | Serial | 1.6% | 100.584
|
$102.96 million | 2014 | Serial | 4% | 105.824
|
$25 million | 2015 | Serial | 2.5% | 102.295
|
$102.96 million | 2015 | Serial | 5% | 110.095
|
$1.2 million | 2016 | Serial | 2% | 99.475
|
$126.76 million | 2016 | Serial | 5% | 111.548
|
$127.96 million | 2017 | Serial | 5% | 112.443
|
$127.96 million | 2018 | Serial | 5% | 112.737
|
$2 million | 2019 | Serial | 3% | 99.803
|
$125.96 million | 2019 | Serial | 5% | 112.701
|
$40 million | 2020 | Serial | 5% | 113.238
|
$87.96 million | 2020 | Serial | 5% | 112.467
|
$127.96 million | 2021 | Serial | 5% | 111.572
|
$50 million | 2022 | Serial | 5% | 112.617
|
$77.96 million | 2022 | Serial | 5% | 111.705
|
$127.96 million | 2023 | Serial | 5% | 111.365
|
$127.96 million | 2024 | Serial | 5% | 109.377
|
$34.5 million | 2025 | Serial | 4% | 99.486
|
$93.46 million | 2025 | Serial | 5% | 108.322
|
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