By Sheri Kasprzak
New York, Feb. 2 - The State of North Carolina sold $500 million of series 2011A capital improvement limited obligation bonds on Wednesday, according to a pricing sheet.
The bonds (Aaa/AA+/AAA) were sold competitively with Wells Fargo Securities LLC winning the bid. FirstSouthwest Co. was the financial adviser.
The bonds are due 2012 to 2031 with coupons from 3% to 5.25%.
Proceeds will be used to fund improvements to higher education facilities, purchase land and make improvements to other state facilities.
| Issuer: | State of North Carolina
|
| Issue: | Series 2011A capital improvement limited obligation bonds
|
| Amount: | $500 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Securities LLC (winner)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 16
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $12.295 million | 2012 | Serial | 3% | NRO
|
| $17.43 million | 2013 | Serial | 5% | 108.897
|
| $17.95 million | 2014 | Serial | 5% | 111.42
|
| $18.49 million | 2015 | Serial | 5% | 112.694
|
| $19.23 million | 2016 | Serial | 5% | 113.968
|
| $20 million | 2017 | Serial | 5% | 114.599
|
| $20.8 million | 2018 | Serial | 5% | 114.266
|
| $21.63 million | 2019 | Serial | 5% | 113.517
|
| $22.495 million | 2020 | Serial | 5% | 112.638
|
| $23.395 million | 2021 | Serial | 5% | 110.884
|
| $24.33 million | 2022 | Serial | 5% | 109.326
|
| $25.545 million | 2023 | Serial | 5% | 107.953
|
| $26.825 million | 2024 | Serial | 5% | NRO
|
| $28.165 million | 2025 | Serial | 4% | 97.348
|
| $29.575 million | 2026 | Serial | 5% | 104.573
|
| $31.05 million | 2027 | Serial | 5% | 103.728
|
| $32.605 million | 2028 | Serial | 4.5% | 98.23
|
| $34.235 million | 2029 | Serial | 5% | 102.364
|
| $36.03 million | 2030 | Serial | 4.75% | 98.999
|
| $37.925 million | 2031 | Serial | 5.25% | NRO
|
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