By Sheri Kasprzak
New York, June 2 - The State of Maine sold Thursday $108.135 million of series 2011 general obligation bonds, said a pricing sheet.
The offering included $39.635 million of series 2011A taxable bonds and $68.5 million of series 2011B tax-exempt bonds.
The bonds (Aa2/AA/) were sold competitively with J.P. Morgan Securities LLC winning the bid.
The 2011A bonds are due 2012 to 2014 with 1.625% to 2% coupons. The 2011B bonds are due 2012 to 2021 with 2% to 5% coupons.
Proceeds will be used to repay at maturity on June 15, 2011, outstanding bond anticipation notes, which were issued to fund capital expenditures.
Issuer: | State of Maine
|
Issue: | Series 2011 general obligation bonds
|
Amount: | $108.135 million
|
Type: | Competitive
|
Underwriter: | J.P. Morgan Securities LLC (winner)
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
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Pricing date: | June 2
|
Settlement date: | June 8
|
|
$39.635 million series 2011A taxable bonds
|
Amount | Maturity | Type | Coupon | Price
|
$13.215 million | 2012 | Serial | 1.625% | 101.118
|
$13.21 million | 2013 | Serial | 2% | 102.452
|
$13.21 million | 2014 | Serial | 2% | 102.929
|
|
$68.5 million series 2011B tax-exempt bonds
|
Amount | Maturity | Type | Coupon | Price
|
$2.215 million | 2012 | Serial | 2% | 101.712
|
$2.215 million | 2013 | Serial | 3% | 105.042
|
$2.215 million | 2014 | Serial | 4% | 109.623
|
$8.84 million | 2015 | Serial | 5% | 115.528
|
$8.84 million | 2016 | Serial | 5% | 118.052
|
$8.835 million | 2017 | Serial | 5% | 119.191
|
$8.835 million | 2018 | Serial | 5% | 119.598
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$8.835 million | 2019 | Serial | 5% | 119.824
|
$8.835 million | 2020 | Serial | 3% | 103.591
|
$8.835 million | 2021 | Serial | 5% | 120.004
|
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