By Sheri Kasprzak
New York, Aug. 11 - The Oklahoma Capitol Improvement Authority priced $116.365 million in series 2010 state facilities refunding revenue bonds, according to a term sheet.
The offering included $86.26 million in series 2010A tax-exempt bonds and $30.105 million in series 2010B federally taxable bonds.
The 2010A bonds are due 2015 to 2018 with coupons from 2% to 5%. The 2010B bonds are due 2014 to 2015 with coupons from 2.026% to 2.476%, priced at par.
RBC Capital Markets Corp. was the senior manager for the bonds (Aa3/AA/) with Baird & Co., BOSC Inc. and Goldman Sachs & Co. as the co-managers.
Proceeds will be used to refund the authority's series 2005F bonds, which were used to fund higher education projects.
Located in Oklahoma City, the authority finances the construction of state buildings.
| Issuer: | Oklahoma Capitol Improvement Authority
|
| Issue: | Series 2010 state facilities refunding revenue bonds
|
| Amount: | $116.365 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets Corp. (lead), Baird & Co., BOSC Inc. and Goldman Sachs & Co. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 24
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2015 | Serial | 2% | 102.33
|
| 2016 | Serial | 2% | 100.772
|
| 2016 | Serial | 5% | 117.334
|
| 2017 | Serial | 2.25% | 100.315
|
| 2017 | Serial | 5% | 117.718
|
| 2018 | Serial | 2.5% | 100.14
|
| 2018 | Serial | 5% | 117.877
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 2.026% | 100
|
| 2015 | Serial | 2.476% | 100
|
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