Published on 12/3/2014 in the Prospect News Municipals Daily.
New Issue: New Jersey brings to market $525 million of various purpose G.O. bonds
By Sheri Kasprzak
New York, Dec. 3 – The State of New Jersey priced $525 million of series 2014 various purpose general obligation bonds, according to a pricing sheet.
The bonds (/A/) were sold through competitive bid. The issuer did not respond to requests for the winning bidder Wednesday.
The bonds are due 2016 to 2035 with 3.25% to 5% coupons and 0.37% to 3.73% yields.
Proceeds will be used to finance projects included in the state’s ongoing capital expenditure program, including environmental cleanup projects and open space conservation.
| Issuer: | State of New Jersey
|
| Issue: | Series 2014 various purpose general obligation bonds
|
| Amount: | $525 million
|
| Type: | Competitive
|
| Rating: | Standard & Poor’s: A
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 18
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $16,005,000 | 2016 | Serial | 5% | 106.694 | 0.375%
|
| $16,805,000 | 2017 | Serial | 5% | 110.052 | 0.85%
|
| $17,645,000 | 2018 | Serial | 5% | 113.068 | 1.13%
|
| $18,525,000 | 2019 | Serial | 5% | 115.02 | 1.50%
|
| $19,455,000 | 2020 | Serial | 5% | 116.322 | 1.84%
|
| $20,425,000 | 2021 | Serial | 5% | 117.282 | 2.12%
|
| $21,445,000 | 2022 | Serial | 5% | 118.319 | 2.31%
|
| $22.52 million | 2023 | Serial | 5% | 119.108 | 2.48%
|
| $23,645,000 | 2024 | Serial | 5% | 120.183 | 2.58%
|
| $24,825,000 | 2025 | Serial | 5% | 120.318 | 2.75%
|
| $26.07 million | 2026 | Serial | 5% | 118.917 | 2.89%
|
| $27.37 million | 2027 | Serial | 5% | 118.223 | 2.96%
|
| $28.74 million | 2028 | Serial | 5% | 117.633 | 3.02%
|
| $30.18 million | 2029 | Serial | 5% | 117.046 | 3.08%
|
| $31,685,000 | 2030 | Serial | 3.25% | 97.971 | 3.42%
|
| $32,715,000 | 2031 | Serial | 5% | 116.076 | 3.18%
|
| $34.35 million | 2032 | Serial | 5% | 115.594 | 3.23%
|
| $36.07 million | 2033 | Serial | 4% | 103.193 | 3.63%
|
| $37.51 million | 2034 | Serial | 4% | 102.754 | 3.68%
|
| $39,015,000 | 2035 | Serial | 4% | 102.317 | 3.73%
|
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