By Sheri Kasprzak
New York, Aug. 16 - The State of Minnesota came to market Tuesday with $60.36 million of series 2011 public safety radio revenue bonds, according to a pricing sheet.
The bonds (Aa3/AA+/AA) were sold through senior manager Jefferies & Co. with Barclays Capital Inc., Wells Fargo Securities LLC, Siebert Brandford Shank & Co. LLC and Cronin & Co. Inc. as the co-managers.
The bonds are due 2012 to 2027 with 1% to 5% coupons.
Proceeds will be used to finance a statewide radio system plan for emergency response organizations.
| Issuer: | State of Minnesota
|
| Issue: | Series 2011 911 public safety radio revenue bonds
|
| Amount: | $60.36 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. (lead), Barclays Capital Inc., Wells Fargo Securities LLC, Siebert Brandford Shank & Co. LLC and Cronin & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA+
|
| Fitch: AA
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 30
|
|
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 1%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 3%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 4%
|
| 2018 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 3%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 3.125%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 3.25%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 3.375%
|
| 2027 | Serial | 5%
|
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