Published on 1/13/2012 in the Prospect News Municipals Daily.
New Issue: Oklahoma Capitol Improvement sells $60.51 million of state highway revenue bonds
By Sheri Kasprzak
New York, Jan. 13 - The Oklahoma Capitol Improvement Authority priced $60.51 million of series 2012 state highway capital improvement revenue bonds, according to a term sheet.
The bonds (AA/AA) were sold through Morgan Stanley & Co. LLC. The co-managers were BOSC Inc., Goldman, Sachs & Co. and Robert W. Baird & Co. Inc.
The bonds are due 2012 to 2025 with 2% to 5% coupons.
Proceeds will be used to construct, improve, maintain and repair state roads, highways and bridges, which are part of the state highway system.
| Issuer: | Oklahoma Capitol Improvement Authority
|
| Issue: | Series 2012 state highway capital improvement revenue bonds
|
| Amount: | $60.51 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead); BOSC Inc., Goldman, Sachs & Co. and Robert W. Baird & Co. Inc. (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.36 million | 2012 | Serial | 2% | 101.193
|
| $1.12 million | 2013 | Serial | 2% | 102.698
|
| $2,315,000 | 2013 | Serial | 3% | 104.374
|
| $3,535,000 | 2014 | Serial | 3% | 106.433
|
| $3,665,000 | 2015 | Serial | 4% | 111.513
|
| $3.81 million | 2016 | Serial | 4% | 113.789
|
| $3.97 million | 2017 | Serial | 4% | 115.754
|
| $1,835,000 | 2018 | Serial | 3% | 110.106
|
| $2,295,000 | 2018 | Serial | 5% | 122.818
|
| $4,305,000 | 2019 | Serial | 4% | 117.205
|
| $200,000 | 2020 | Serial | 3% | 109.689
|
| $4.28 million | 2020 | Serial | 4% | 117.697
|
| $1.7 million | 2021 | Serial | 4% | 117.332
|
| $2,975,000 | 2021 | Serial | 5% | 126.087
|
| $350,000 | 2022 | Serial | 4% | 117.259
|
| $4,555,000 | 2022 | Serial | 5% | 126.743
|
| $5,155,000 | 2023 | Serial | 5% | 127.168
|
| $1,075,000 | 2024 | Serial | 4% | 116.807
|
| $4,335,000 | 2024 | Serial | 5% | 127.652
|
| $1,665,000 | 2025 | Serial | 4% | 116.783
|
| $4.01 million | 2025 | Serial | 5% | 128.28
|
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