By Sheri Kasprzak
New York, May 27 - The State of Arizona released the full details of its previously announced $425.42 million sale of series 2010A lottery revenue bonds in a pricing sheet released Thursday. The bonds (A1/AA-/) priced on Wednesday.
The bonds were sold through J.P. Morgan Securities Inc. with Citigroup Global Markets Inc., Bank of America Merrill Lynch, Piper Jaffray & Co., Ramirez & Co. Inc. and Wedbush Morgan Securities Inc. as the co-managers.
The bonds are due 2013 to 2029 with coupons from 3% to 5%.
Proceeds will be deposited into the state's general fund to pay appropriated expenditures.
| Issuer: | State of Arizona
|
| Issue: | Series 2010A lottery revenue bonds
|
| Amount: | $425.42 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead), Citigroup Global Markets Inc., Bank of America Merrill Lynch, Piper Jaffray & Co., Ramirez & Co. Inc. and Wedbush Morgan Securities Inc. (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Pricing date: | May 26
|
| Settlement date: | June 15
|
|
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 3% | 104.295
|
| 2013 | Serial | 4% | 107.257
|
| 2014 | Serial | 3% | 104.063
|
| 2014 | Serial | 5% | 111.805
|
| 2015 | Serial | 3% | 103.122
|
| 2015 | Serial | 5% | 112.586
|
| 2016 | Serial | 3% | 101.271
|
| 2016 | Serial | 5% | 112.331
|
| 2017 | Serial | 3% | 99.307
|
| 2017 | Serial | 5% | 111.872
|
| 2018 | Serial | 3.25% | 99.508
|
| 2018 | Serial | 5% | 111.773
|
| 2019 | Serial | 5% | 111.295
|
| 2020 | Serial | 3.5% | 98.251
|
| 2020 | Serial | 5% | 110.733
|
| 2021 | Serial | 5% | 108.86
|
| 2022 | Serial | 5% | 107.867
|
| 2023 | Serial | 4% | 98.796
|
| 2023 | Serial | 5% | 106.884
|
| 2024 | Serial | 5% | 106.154
|
| 2025 | Serial | 5% | 105.51
|
| 2026 | Serial | 5% | 104.951
|
| 2027 | Serial | 4% | 95.006
|
| 2027 | Serial | 5% | 104.633
|
| 2028 | Serial | 4.25% | 97.534
|
| 2028 | Serial | 5% | 104.237
|
| 2029 | Serial | 5% | 103.921
|
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