By Sheri Kasprzak
New York, Sept. 10 - The State of Arkansas priced $495 million of series 2013 general obligation four-lane highway construction and improvement bonds Tuesday, according to a pricing sheet.
The bonds (Aa1/AA/) were sold competitively. The issuer did not immediately respond to requests for the winning bidder Tuesday.
The bonds are due 2014 to 2023 with 1% to 5% coupons and 0.20% to 3.44% yields.
Proceeds will be used to finance the construction and improvement of highways as part of the Connecting Arkansas Program.
| Issuer: | State of Arkansas
|
| Issue: | Series 2013 general obligation four-lane highway construction and improvement bonds
|
| Amount: | $495 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | Sept. 10
|
| Settlement date: | Oct. 3
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $5 million | 2014 | Serial | 2% | 101.258 | 0.20%
|
| $1 million | 2015 | Serial | 1% | 100.845 | 0.50%
|
| $1 million | 2016 | Serial | 2% | 103.198 | 0.80%
|
| $2 million | 2017 | Serial | 2% | 102.849 | 1.21%
|
| $2 million | 2018 | Serial | 2% | 101.666 | 1.63%
|
| $2 million | 2019 | Serial | 2% | 100.159 | 1.97%
|
| $37,775,000 | 2020 | Serial | 4% | 109.845 | 2.40%
|
| $142,305,000 | 2021 | Serial | 5% | 115.664 | 2.73%
|
| $148 million | 2022 | Serial | 3.25% | 100 | 3.25%
|
| $153.92 million | 2023 | Serial | 3.5% | 100.399 | 3.44%
|
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