Published on 5/21/2012 in the Prospect News Municipals Daily.
New Issue: New Mexico's $57.99 million severance tax bonds won by Morgan Stanley
By Sheri Kasprzak
New York, May 21 - The State of New Mexico came to market Monday with 57.99 million of series 2012A severance tax bonds, said a pricing sheet.
The bonds (Aa1) were sold competitively with Morgan Stanley & Co. LLC winning the bid, according to Stephanie Schardin Clarke, director of finance. The true interest cost was 1.47%.
The bonds are due 2013 to 2022 with 3% to 5% coupons.
Proceeds will be used to finance capital improvements authorized by the state legislature.
Issuer: | State of New Mexico
|
Issue: | Series 2012A severance tax bonds
|
Amount: | $57.99 million
|
Type: | Competitive
|
Underwriters: | Morgan Stanley & Co. LLC (winner)
|
TIC: | 1.47%
|
Ratings: | Moody's: Aa1
|
Pricing date: | May 21
|
Settlement date: | June 21
|
|
Amount | Maturity | Type | Coupon | Price
|
$1.5 million | 2013 | Serial | 3% | 102.789
|
$2.65 million | 2014 | Serial | 4% | 107.22
|
$5,615,000 | 2015 | Serial | 5% | 113.279
|
$5.9 million | 2016 | Serial | 5% | 117.047
|
$6,205,000 | 2017 | Serial | 5% | 120
|
$6.52 million | 2018 | Serial | 5% | 122.489
|
$6,855,000 | 2019 | Serial | 5% | 124.393
|
$7,205,000 | 2020 | Serial | 5% | 125.518
|
$7,575,000 | 2021 | Serial | 5% | 126.363
|
$7,965,000 | 2022 | Serial | 5% | 127.448
|
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