By Sheri Kasprzak
New York, Oct. 21 - The State of Mississippi sold $650.67 million in series 2010 general obligation bonds on Thursday, according to a pricing sheet.
The sale included $233.975 million in series 2010D taxable bonds, $45 million in series 2010E recovery zone economic development bonds and $371.695 million in series 2010F Build America Bonds.
The 2010D bonds are due 2011 to 2023 with 0.651% to 4.351% coupons, all priced at par. The 2010E bonds are due 2035 and have a 5.445% coupon priced at par. The 2010F bonds are due 2023 to 2025 with a term bond due 2034. The coupons range from 4.35% to 4.68%, all priced at par. The 2034 bonds have a 5.245% coupon priced at par.
Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. were the senior managers. The co-managers were Duncan-Williams Inc., Mesirow Financial Inc., Morgan Keegan & Co. Inc., Stephens Inc., Crews & Associates Inc., Jefferies & Co., Kipling Jones & Co. and Loop Capital Markets LLC.
Proceeds will be used to refinance the state's series 2009B G.O. notes and series 2010A-C G.O. notes, as well as to fund loans, finance capital improvements, economic development projects and other capital projects.
| Issuer: | State of Mississippi
|
| Issue: | Series 2010 general obligation bonds
|
| Amount: | $650.67 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. (lead), Duncan-Williams Inc., Mesirow Financial Inc., Morgan Keegan & Co. Inc., Stephens Inc., Crews & Associates Inc., Jefferies & Co., Kipling Jones & Co. and Loop Capital Markets LLC (co-managers)
|
| Pricing date: | Oct. 21
|
| Settlement date: | Nov. 10
|
|
|
| $233.975 million series 2010D taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5 million | 2011 | Serial | 0.651% | 100
|
| $5 million | 2012 | Serial | 0.851% | 100
|
| $5 million | 2013 | Serial | 1.218% | 100
|
| $20.25 million | 2014 | Serial | 1.745% | 100
|
| $20.645 million | 2015 | Serial | 2.095% | 100
|
| $21.14 million | 2016 | Serial | 2.63% | 100
|
| $21.725 million | 2017 | Serial | 2.88% | 100
|
| $22.41 million | 2018 | Serial | 3.381% | 100
|
| $23.195 million | 2019 | Serial | 3.581% | 100
|
| $24.04 million | 2020 | Serial | 3.731% | 100
|
| $24.965 million | 2021 | Serial | 3.931% | 100
|
| $25.98 million | 2022 | Serial | 4.131% | 100
|
| $14.625 million | 2023 | Serial | 4.351% | 100
|
|
|
| $45 million series 2010E recovery zone economic development bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $45 million | 2035 | Term | 5.445% | 100
|
|
|
| $371.695 million series 2010F Build America Bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $12.395 million | 2023 | Serial | 4.35% | 100
|
| $27.915 million | 2024 | Serial | 4.51% | 100
|
| $28.76 million | 2025 | Serial | 4.68% | 100
|
| $302.625 million | 2034 | Term | 5.245% | 100
|
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