Published on 8/5/2009 in the Prospect News Municipals Daily.
New Issue: Maryland prices $485 million in G.O., BABs Wednesday
By Aaron Hochman-Zimmerman
New York, Aug. 5 - Maryland priced $485 million in bonds (Aaa/AAA/AAA) on Wednesday.
A $235 million general obligation tranche came as a negotiated deal via Citigroup Global Markets Inc. The bonds carry maturities from 2012 to 2023 and yields from 0.94% to 3.17%.
The state also sold $200 million tax-exempt bonds to J.P. Morgan Securities Inc. via competitive auction.
The state also decided to sell $50 million competitively as Build America Bonds rather than in a tax-exempt format. Details of the tranche were not available.
Proceeds will be used for the acquisition and construction of state facilities.
| Issuer: | Maryland
|
| Total amount: | $485 million
|
| Pricing date: | Aug. 5
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Build America Bonds
|
| Issue: | Build America Bonds
|
| Amount: | $50 million
|
| Type: | Competitive
|
|
|
| Competitive
|
| Issue: | Competitive bonds
|
| Amount: | $200 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities Inc.
|
|
|
| General obligation
|
| Issue: | General obligation bonds
|
| Amount: | $235 million
|
| Type: | Negotiated
|
| Maturities: | 2012 to 2023
|
| Yields: | 0.94% to 3.17%
|
| Underwriter: | Citigroup Global Markets Inc.
|
|
|
| Maturity | Amount | Coupon Yield | Price
|
| Aug. 15, 2012 | $8.5 million | 2% | 0.94% | 103.119
|
| Aug. 15, 2012 | $4.28 million | 3% | 0.94% | 106.062
|
| Aug. 15, 2013 | $11.81 million | 2% | 1.28% | 102.793
|
| Aug. 15, 2013 | $10.44 million | 3% | 1.28% | 106.672
|
| Aug. 15, 2014 | $13.505 million | 2% | 1.72% | 101.333
|
| Aug. 15, 2014 | $5.925 million | 3% | 1.72% | 106.097
|
| Aug. 15, 2015 | $12.07 million | 2% | 2.00% | 105.620
|
| Aug. 15, 2015 | $6.38 million | 3% | 2.00% | 105.620
|
| Aug. 15, 2016 | $11.095 million | 2.25% | 2.28% | 99.807
|
| Aug. 15, 2016 | $6.14 million | 3% | 2.28% | 104.628
|
| Aug. 15, 2017 | $8.535 million | 2.5% | 2.54% | 99.712
|
| Aug. 15, 2017 | $10.48 million | 3% | 2.54% | 103.308
|
| Aug. 15, 2018 | $7.6 million | 4% | 2.79% | 108.613
|
| Aug. 15, 2018 | $1.165 million | 5% | 2.79% | 115.733
|
| Aug. 15, 2018 | $1.57 million | 3% | 2.79% | 101.494
|
| Aug. 15, 2019 | $8.27 million | 4% | 2.99% | 107.132
|
| Aug. 15, 2019 | $9.865 million | 5% | 2.99% | 114.194
|
| Aug. 15, 2020 | $6.73 million | 3.1% | 3.17% | 99.354
|
| Aug. 15, 2020 | $11.79 million | 5% | 3.17% | 112.829
|
| Aug. 15, 2021 | $6.785 million | 3.25% | 3.33% | 99.214
|
| Aug. 15, 2021 | $16.275 million | 5.00% | 3.33% | 111.633
|
| Aug. 15, 2022 | $6.130 million | 3.40% | 3.46% | 99.376
|
| Aug. 15, 2022 | $17.620 million | 5.00% | 3.46% | 110.671
|
| Aug. 15, 2023 | $8.935 million | 3.50% | 3.56% | 99.343
|
| Aug. 15, 2023 | $23.105 million | 5.00% | 3.56% | 109.939
|
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