By Sheri Kasprzak
New York, Sept. 11 - The State of Missouri came to market Tuesday with $171.9 million of series 2012 general obligation refunding bonds in two tranches, according to pricing sheets.
The deal included $65.79 million of series 2012A state water pollution control G.O. refunding bonds and $106.11 million of series 2012A fourth state building G.O. refunding bonds.
The water pollution bonds are due 2013 to 2019 with 3% to 4% coupons. The fourth state building bonds are due 2013 to 2021 with 2% to 4% coupons.
The bonds (Aaa/AAA/AAA) were sold competitively with Bank of America Merrill Lynch coming in the with lowest true interest cost at 0.757607%. The cover bid came from Citigroup Global Markets Inc. with a 0.758614% true interest cost.
Proceeds will be used to refund the state's series 2002A-B state water pollution control G.O. bonds and its series 2002A fourth state building G.O. bonds.
| Issuer: | State of Missouri
|
| Issue: | Series 2012 general obligation refunding bonds
|
| Amount: | $171.9 million
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch (winner)
|
| TIC: | 0.757607%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 27
|
|
|
| $65.79 million series 2012A state water pollution control G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $13,035,000 | 2013 | Serial | 3% | 102.826
|
| $12.06 million | 2014 | Serial | 4% | 107.434
|
| $13.08 million | 2015 | Serial | 4% | 110.859
|
| $5,965,000 | 2016 | Serial | 4% | 113.967
|
| $16 million | 2017 | Serial | 4% | 116.222
|
| $3.88 million | 2018 | Serial | 4% | 117.779
|
| $1.77 million | 2019 | Serial | 3% | 111.569
|
|
|
| $106.11 million series 2012A fourth state building G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $11 million | 2013 | Serial | 3% | 102.826
|
| $12 million | 2014 | Serial | 4% | 107.434
|
| $12 million | 2015 | Serial | 4% | 110.859
|
| $14.2 million | 2016 | Serial | 4% | 113.967
|
| $23.5 million | 2017 | Serial | 4% | 116.222
|
| $24 million | 2018 | Serial | 4% | 117.779
|
| $6.84 million | 2019 | Serial | 3% | 111.569
|
| $1,265,000 | 2020 | Serial | 2% | 103.837
|
| $1,305,000 | 2021 | Serial | 2% | 102.412
|
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