Published on 9/11/2012 in the Prospect News Municipals Daily.
New Issue: Arkansas prices $197 million of federal highway grant anticipation bonds
By Sheri Kasprzak
New York, Sept. 11 - The State of Arkansas sold $197,005,000 of series 2012 federal highway grant anticipation and tax revenue bonds, according to a pricing sheet. The offering was downsized from $225 million.
The bonds (Aa1/AA/) were sold competitively. The issuer did not return requests for the winning bidder by press time Tuesday evening.
The bonds are due 2015 to 2024 with 3% to 5% coupons.
Proceeds will be deposited into the state's project fund.
| Issuer: | State of Arkansas
|
| Issue: | Series 2012 federal highway grant anticipation and tax revenue bonds
|
| Amount: | $197,005,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | Sept. 11
|
| Settlement date: | Oct. 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.6 million | 2015 | Serial | 5% | 111.551
|
| $7,985,000 | 2015 | Serial | 5% | 113.787
|
| $8.18 million | 2016 | Serial | 5% | 115.732
|
| $8,385,000 | 2016 | Serial | 5% | 117.961
|
| $8,595,000 | 2017 | Serial | 5% | 119.004
|
| $8.81 million | 2017 | Serial | 5% | 121.08
|
| $9.03 million | 2018 | Serial | 5% | 121.822
|
| $9,255,000 | 2018 | Serial | 5% | 123.555
|
| $9.49 million | 2019 | Serial | 5% | 123.753
|
| $9,725,000 | 2019 | Serial | 5% | 125.049
|
| $9.97 million | 2020 | Serial | 5% | 125.456
|
| $10.22 million | 2020 | Serial | 5% | 126.542
|
| $10,475,000 | 2021 | Serial | 5% | 126.639
|
| $10,735,000 | 2021 | Serial | 5% | 127.519
|
| $11,005,000 | 2022 | Serial | 3% | 110.065
|
| $11.17 million | 2022 | Serial | 3% | 110.26
|
| $11,335,000 | 2023 | Serial | 3% | 109.21
|
| $11,505,000 | 2023 | Serial | 3% | 108.265
|
| $11.68 million | 2024 | Serial | 3% | 106.219
|
| $11,855,000 | 2024 | Serial | 3% | 105.487
|
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