By Sheri Kasprzak
New York, July 14 - The State of New Mexico priced $127.5 million in series 2010-2011 tax and revenue anticipation notes, said a pricing sheet.
The notes (MIG 1/SP-1+/) were sold competitively. Piper Jaffray & Co., Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. all took portions of the notes. The weighted true interest cost came in at 0.30524%.
The notes are due June 30, 2011. The notes were sold in split maturities with a 1.5% coupon priced at 101.127, a 2% coupon priced at 101.597 and a 2.5% coupon priced at 100.463.
Proceeds will be used to finance general capital needs ahead of the collection of taxes and other revenues.
| Issuer: | State of New Mexico
|
| Issue: | Series 2010-2011 tax and revenue anticipation notes
|
| Amount: | $127.5 million
|
| Type: | Competitive
|
| Underwriters: | Piper Jaffray & Co., Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. (winners)
|
| Weighted TIC: | 0.30524%
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Pricing date: | July 14
|
| Settlement date: | July 21
|
|
|
| Maturity | Type | Coupon | Price
|
| June 30, 2011 | Term | 1.5% | 101.127
|
| June 30, 2011 | Term | 2% | 101.597
|
| June 30, 2011 | Term | 2.5% | 100.463
|
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