By Sheri Kasprzak
New York, Jan. 13 - The Commonwealth of Pennsylvania priced $900 million in series 2010A-B general obligation refunding bonds and Build America Bonds, according to a term sheet.
The bonds were sold competitively with Barclays Capital Inc. as the winning bidder.
The sale included $295.865 million in series 2010A G.O. refunding bonds and $604.135 million in series 2010B BABs.
The 2010A bonds are due 2011to 2019 with coupons from 2% to 5%.The 2010B bonds are due 2020 to 2021 with term bonds due 2026 and 2030. The coupons range from 4.45% to 5.45%.
Proceeds will be used to refund existing debt and fund capital expenditures
| Issuer: | Commonwealth of Pennsylvania
|
| Issue: | Series 2010A-B general obligation refunding bonds and BABs
|
| Amount: | $900 million
|
| Type: | Competitive
|
| Underwriter: | Barclays Capital Inc.
|
| Pricing date: | Jan. 13
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 101.808
|
| 2012 | Serial | 5% | 108.763
|
| 2013 | Serial | 5% | 112.114
|
| 2014 | Serial | 5% | 114.523
|
| 2015 | Serial | 5% | 115.638
|
| 2016 | Serial | 5% | 115.573
|
| 2017 | Serial | 5% | 115.819
|
| 2018 | Serial | 5% | 115.784
|
| 2019 | Serial | 5% | 115.599
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 4.45% | 100.158
|
| 2021 | Serial | 4.55% | 100.169
|
| 2026 | Term | 4.65% | 100.221
|
| 2030 | Term | 5.45% | 100.116
|
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