By Sheri Kasprzak
New York, Sept. 16 - The Missouri Highways & Transportation Commission sold $600 million in series 2009 reimbursement state road fund bonds, according to a term sheet. The bonds priced Wednesday
The deal includes $341.575 million in series 2009A federally taxable Build America Bonds and $258.425 million in series 2009B tax-exempt bonds.
The 2009A bonds are due 2011 to 2021 with coupons from 2% to 5%. The 2009B bonds are due 2022 to 2026 with a term bond due 2033. The serials have coupons from 4.802% to 5.252% priced at par and the term bond has a 5.445% coupon, also priced at par.
Merrill Lynch & Co. Inc. was the senior manager.
Proceeds will fund the state's bridge improvement program.
| Issuer: | Missouri Highways & Transportation Commission
|
| Issue: | Series 2009 reimbursement state road fund bonds
|
| Amount: | $600 million
|
| Type: | Negotiated
|
| Underwriter: | Merrill Lynch & Co. Inc.
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 30
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 101.759
|
| 2011 | Serial | 5% | 106.474
|
| 2012 | Serial | 2% | 101.902
|
| 2013 | Serial | 5% | 111.876
|
| 2014 | Serial | 2% | 100.392
|
| 2014 | Serial | 5% | 113.504
|
| 2015 | Serial | 2.25% | 100.470
|
| 2015 | Serial | 5% | 114.867
|
| 2016 | Serial | 2.5% | 100.604
|
| 2016 | Serial | 4% | 109.691
|
| 2016 | Serial | 5% | 115.749
|
| 2017 | Serial | 3% | 102.458
|
| 2017 | Serial | 5% | 116.126
|
| 2018 | Serial | 3% | 101.362
|
| 2018 | Serial | 5% | 116.518
|
| 2019 | Serial | 4% | 108.535
|
| 2019 | Serial | 5% | 116.824
|
| 2020 | Serial | 5% | 115.739
|
| 2021 | Serial | 3.5% | 102.374
|
| 2021 | Serial | 5% | 114.667
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2022 | Serial | 4.802% | Par
|
| 2023 | Serial | 4.902% | Par
|
| 2024 | Serial | 5.002% | Par
|
| 2025 | Serial | 5.152% | Par
|
| 2026 | Serial | 5.252% | Par
|
| 2033 | Term | 5.445% | Par
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
