By Sheri Kasprzak
New York, Aug. 11 - The State of Maine priced $55.845 million in general purpose general obligation bond anticipation notes Monday, said Barbara Raths, deputy treasurer for the state.
The bonds (MIG1) were sold on a limited competitive basis with Banc of America Securities LLC as the winning bidder.
The net interest cost for the tax-exempt portion of the sale came in at 1.64592%, and the NIC for the taxable portion of the offering came in at 3.43693%.
Wachovia Bank and Fidelity Capital Markets also bid on the notes, which are due June 17, 2009.
The coupon for the taxable portion of the notes was 2.5%, and the coupon for the taxable notes was 3.45%, both priced at par.
Proceeds will be used for interim financings until a long-term bond is issued for capital projects.
| Issuer: | State of Maine
|
| Issue: | General purpose general obligation bond anticipation notes
|
| Amount: | $55.845 million
|
| Type: | Competitive
|
| Maturity: | June 17, 2009
|
| NIC: | 1.64592% for tax-exempt; 3.43693% for taxable
|
| Coupons: | 2.5% for tax-exempt; 3.45% for taxable
|
| Price: | Par
|
| Underwriter: | Banc of America Securities LLC
|
| Rating: | Moody's: MIG1
|
| Pricing date: | Aug. 11
|
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