By Sheri Kasprzak
New York, Oct. 18 - The Commonwealth of Pennsylvania priced on Tuesday $815.81 million of series 2011 general obligation bonds in two tranches, said a pricing sheet.
The offering included $650 million of first series 2011 bonds and $165.81 million of first refunding series 2011 bonds.
The first series bonds are due 2012 to 2031 with 2% to 5% coupons. The first refunding series bonds are due 2012 to 2022 with 2% to 5% coupons.
Citigroup Global Markets Inc. won the competitive bid for the offering.
Proceeds will be used to fund the construction, acquisition and equipment of capital projects within the state; make grants and loans for various capital improvement projects, including water and sewage treatment facilities; and refund existing debt.
Issuer: | Commonwealth of Pennsylvania
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Issue: | Series 2011 general obligation bonds
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Amount: | $815.81 million
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Type: | Competitive
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Underwriter: | Citigroup Global Markets Inc. (winner)
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Pricing date: | Oct. 18
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Settlement date: | Oct. 27
|
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$650 million first series of 2011 bonds
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Amount | Maturity | Type | Coupon | Price
|
$20.76 million | 2012 | Serial | 2% | NRO
|
$21.285 million | 2013 | Serial | 4% | NRO
|
$22.045 million | 2014 | Serial | 4% | 109.717
|
$22.945 million | 2015 | Serial | 5% | 115.406
|
$23.885 million | 2016 | Serial | 5% | 117.332
|
$24.855 million | 2017 | Serial | 5% | 119.022
|
$26.005 million | 2018 | Serial | 5% | 119.998
|
$27.34 million | 2019 | Serial | 5% | 120.143
|
$28.74 million | 2020 | Serial | 5% | 120.224
|
$30.215 million | 2021 | Serial | 5% | NRO
|
$31.765 million | 2022 | Serial | 5% | NRO
|
$33.395 million | 2023 | Serial | 5% | NRO
|
$35.105 million | 2024 | Serial | 5% | NRO
|
$36.905 million | 2025 | Serial | 5% | NRO
|
$38.8 million | 2026 | Serial | 5% | NRO
|
$40.785 million | 2027 | Serial | 4% | NRO
|
$42.88 million | 2028 | Serial | 4% | NRO
|
$45.08 million | 2029 | Serial | 5% | NRO
|
$47.39 million | 2030 | Serial | 5% | NRO
|
$49.82 million | 2031 | Serial | 4% | 100
|
|
$165.81 million first refunding series 2011 bonds
|
Amount | Maturity | Type | Coupon | Price
|
$50,000 | 2012 | Serial | 2% | 101.15
|
$50,000 | 2013 | Serial | 2% | 102.502
|
$50,000 | 2014 | Serial | 2% | 103.253
|
$50,000 | 2015 | Serial | 2% | 103.234
|
$23.615 million | 2016 | Serial | 5% | 116.292
|
$24.625 million | 2017 | Serial | 5% | 118.083
|
$25.795 million | 2018 | Serial | 5% | 119.214
|
$9.48 million | 2019 | Serial | 5% | 119.521
|
$3.095 million | 2020 | Serial | 5% | 119.649
|
$45.02 million | 2021 | Serial | 5% | NRO
|
$33.98 million | 2022 | Serial | 5% | NRO
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