By Sheri Kasprzak
New York, July 14 - The state of Iowa priced $602.375 million in series 2009 I-Jobs Program special obligation bonds (Aa3/AA/) on Tuesday, said a sellside source connected to the deal.
The sale included $387.445 million in series 2009A tax-exempt bonds and $214.93 million in series 2009B Build America Bonds
The 2009A bonds are due 2011 to 2029 with coupons from 4% to 5% and yields from 1.2% to 4.64%. The 2009B bonds are due 2034 with a 6.75% coupon to yield 6.8%.
Barclays Capital Inc. was the senior manager.
Proceeds will be used to fund the I-Jobs Program, which invests in the state's infrastructure.
| Issuer: | Iowa
|
| Issue: | Series 2009 I-Jobs Program special obligation bonds
|
| Amount: | $602.375 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc.
|
| Maturities: | 2011 to 2029 (for 2009A); 2034 (for 2009B)
|
| Coupons: | 4% to 5% (for 2009A); 6.75% (for 2009B)
|
| Yields: | 1.2% to 4.64% (for 2009A); 6.8% (for 2009B)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Pricing date: | July 14
|
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