By Sheri Kasprzak
New York, April 17 - The Commonwealth of Pennsylvania priced $950 million of series 2012 general obligation bonds, according to a pricing sheet.
The bonds (Aa1//AA+) were sold competitively with Goldman, Sachs & Co. as the winning bidder.
The bonds are due 2013 to 2027 with 4% to 5% coupons and yields from 0.42% to 2.87%, said one market insider familiar with the offering.
Proceeds will be used to construct, acquire and rehabilitate capital facilities, improve sewage treatment systems and maintain and protect environmental projects, including open space and farmland preservation projects.
| Issuer: | Commonwealth of Pennsylvania
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $950 million
|
| Maturities | 2013 to 2027
|
| Coupon: | 4% to 5%
|
| Yields: | 0.42% to 2.87%
|
| Type: | Competitive
|
| Underwriters: | Goldman, Sachs & Co. (winner)
|
| Ratings: | Moody's: Aa1
|
| Fitch: AA+
|
| Pricing date: | April 17
|
| Settlement date: | April 26
|
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