By Sheri Kasprzak
New York, Nov. 20 - The Oklahoma Department of Transportation priced $98.23 million in series 2008A grant anticipation notes on Tuesday, according to an official statement released Thursday.
The bonds (Aa3//A+) were sold on a negotiated basis with J.P. Morgan Securities Inc. as the senior manager. The co-managers were BOSC, Inc.; Capital West Securities Inc.; RBC Capital Markets; and Wachovia Bank.
The bonds are due from 2009 to 2021 with coupons from 3% to 5% and yields from 1.52% to 5%.
Proceeds will be used for construction costs associated with qualified federal aid transportation projects.
| Issuer: | Oklahoma Department of Transportation
|
| Issue: | Series 2008A grant anticipation notes
|
| Amount: | $98.23 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); BOSC, Inc.; Capital West Securities Inc.; RBC Capital Markets; and Wachovia Bank (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Fitch: A+
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 25
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 1.52%
|
| 2010 | Serial | 3% | 2.60%
|
| 2010 | Serial | 4% | 2.60%
|
| 2011 | Serial | 3% | 3.00%
|
| 2011 | Serial | 4% | 3.00%
|
| 2012 | Serial | 3.25% | 3.30%
|
| 2012 | Serial | 4% | 3.30%
|
| 2013 | Serial | 3.375% | 3.50%
|
| 2013 | Serial | 4% | 3.50%
|
| 2014 | Serial | 3.5% | 3.65%
|
| 2014 | Serial | 5% | 3.65%
|
| 2014 | Serial | 4% | 3.65%
|
| 2015 | Serial | 3.75% | 3.85%
|
| 2016 | Serial | 4% | 4.05%
|
| 2016 | Serial | 5% | 4.05%
|
| 2017 | Serial | 4.25% | 4.30%
|
| 2017 | Serial | 5% | 4.30%
|
| 2018 | Serial | 4.375% | 4.50%
|
| 2018 | Serial | 5% | 4.50%
|
| 2018 | Serial | 4.5% | 4.50%
|
| 2019 | Serial | 4.625% | 4.70%
|
| 2019 | Serial | 5% | 4.70%
|
| 2020 | Serial | 4.75% | 4.90%
|
| 2020 | Serial | 5% | 4.90%
|
| 2021 | Serial | 4.875% | 5.00%
|
| 2021 | Serial | 5% | 5.00%
|
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