Published on 11/19/2014 in the Prospect News Municipals Daily.
New Issue: Missouri Development prices $92.66 million Fulton State Hospital bonds
By Sheri Kasprzak
New York, Nov. 19 – The Missouri Development Finance Board sold $92.66 million of series 2014 State of Missouri annual appropriation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold competitively with Wells Fargo Bank, NA winning the bid at a 3.46998% true interest cost.
The bonds are due 2015 to 2039 with 2.125% to 5% coupons with 0.2% to 3.75% yields.
Proceeds will be used to construct, equip, furnish and design a new Fulton State Hospital and to demolish the existing facility, which does not meet state mental health care standards.
| Issuer: | Missouri Development Finance Board/Fulton State Hospital
|
| Issue: | Series 2014 State of Missouri annual appropriation bonds
|
| Amount: | $92.66 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Bank, NA
|
| True interest cost: | 3.46998%
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Fitch: AA+
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 10
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,205,000 | 2015 | Serial | 5% | 103.874 | 0.20%
|
| $2.32 million | 2016 | Serial | 5% | 108.09 | 0.50%
|
| $2,435,000 | 2017 | Serial | 5% | 111.787 | 0.75%
|
| $2,565,000 | 2018 | Serial | 5% | 114.706 | 1.05%
|
| $2,695,000 | 2019 | Serial | 5% | 116.935 | 1.35%
|
| $2.83 million | 2020 | Serial | 5% | 118.418 | 1.66%
|
| $2,975,000 | 2021 | Serial | 5% | 119.214 | 1.97%
|
| $3.13 million | 2022 | Serial | 5% | 120.143 | 2.18%
|
| $3,245,000 | 2023 | Serial | 2.125% | 98.217 | 2.35%
|
| $3,315,000 | 2024 | Serial | 2.25% | 97.835 | 2.50%
|
| $3,405,000 | 2025 | Serial | 3% | 101.391 | 2.80%
|
| $3,505,000 | 2026 | Serial | 3% | 100 | 3.00%
|
| $3,615,000 | 2027 | Serial | 3% | 98.946 | 3.10%
|
| $3,725,000 | 2028 | Serial | 3% | 97.998 | 3.18%
|
| $3.84 million | 2029 | Serial | 3.125% | 98.19 | 3.28%
|
| $3,965,000 | 2030 | Serial | 3.25% | 98.414 | 3.38%
|
| $4,095,000 | 2031 | Serial | 3.25% | 97.711 | 3.43%
|
| $4.23 million | 2032 | Serial | 3.25% | 96.962 | 3.48%
|
| $4,375,000 | 2033 | Serial | 3.5% | 99.178 | 3.56%
|
| $4.54 million | 2034 | Serial | 4% | 102.903 | 3.57%
|
| $4.73 million | 2035 | Serial | 4% | 102.56 | 3.62%
|
| $4.92 million | 2036 | Serial | 4% | 102.286 | 3.66%
|
| $5.12 million | 2037 | Serial | 4% | 102.082 | 3.69%
|
| $5.33 million | 2038 | Serial | 4% | 101.878 | 3.72%
|
| $5.55 million | 2039 | Serial | 4% | 101.674 | 3.75%
|
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