By Aaron Hochman-Zimmerman
New York, June 24 - New Mexico priced $218.45 million series 2009A severance tax bonds at a true interest cost of 2.73% on Tuesday, according to Olivia Padilla-Jackson, director of the state board of finance.
J.P. Morgan Securities Inc. won the auction over five other bidders. Fiscal Strategies Group Inc. acted at financial adviser.
The bonds carry serial maturities from 2010 to 2019.
Proceeds from the deal will be used to refinance nearly $73 million from the state's series 2003A and series 2004A bonds as well as to fund capital improvement projects.
| Issuer: | New Mexico
|
| Issue: | Series 2009A severance tax bonds
|
| Amount: | $218.45 million
|
| Maturities: | 2010 to 2019
|
| True interest cost: | 2.73%
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| Type: | Competitive
|
| Pricing date: | June 23
|
© 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.
