By Sheri Kasprzak
New York, Oct. 6 - The State of North Carolina priced $371.92 million in series 2009A general obligation refunding bonds Tuesday, said a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold competitively. J.P. Morgan Securities Inc. was the winning bidder with a 2.26% true interest cost.
The bonds are due 2010 to 2020 with coupons from 3.5% to 5%.
Proceeds will be used to refund the state's series 1999 school building bonds, series 2001A public improvement bonds, series 2003 G.O. highway bonds, series 2004 G.O. highway bonds, series 2006A G.O. higher education bonds and series 2007A public improvement bonds.
| Issuer: | State of North Carolina
|
| Issue: | Series 2009A general obligation refunding bonds
|
| Amount: | $371.92 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| TIC: | 2.26%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 20
|
|
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 3.5% | 101.151
|
| 2011 | Serial | 5% | 106.108
|
| 2012 | Serial | 5% | 109.690
|
| 2013 | Serial | 5% | 112.737
|
| 2014 | Serial | 5% | 114.957
|
| 2015 | Serial | 5% | 116.568
|
| 2016 | Serial | 5% | 117.644
|
| 2017 | Serial | 5% | 118.563
|
| 2018 | Serial | 5% | 119.426
|
| 2019 | Serial | 5% | 120.290
|
| 2020 | Serial | 5% | 121.273
|
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