By Sheri Kasprzak
New York, April 14 - The State of Michigan priced $60 million of series 2010A general obligation school loan bonds on Wednesday, said a pricing sheet.
The bonds (Aa3/AA-/) were sold on a competitive basis. The full details were not immediately available.
The 2% bonds are due April 15, 2012 and were priced at 100.971.
Robert W. Baird & Co. Inc. was the financial adviser.
The proceeds will be used to fund capital improvements to schools throughout the state.
| Issuer: | State of Michigan
|
| Issue: | Series 2010A general obligation school loan bonds
|
| Amount: | $60 million
|
| Maturity: | April 15, 2012
|
| Coupon: | 2%
|
| Price: | 100.971
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | April 14
|
| Settlement date: | April 22
|
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