Published on 10/22/2013 in the Prospect News Municipals Daily.
New Issue: Pennsylvania brings to market $749.9 million of general obligation debt
By Sheri Kasprzak
New York, Oct. 22 - The Commonwealth of Pennsylvania sold $749.9 million of second series of 2013 general obligation bonds, according to a pricing sheet.
The bonds (//AA) were sold competitively. The issuer did not immediately return calls for the winning bidder Tuesday.
The bonds are due 2014 to 2033 with 3% to 5% coupons and 0.17% to 4.40% yields.
Proceeds will be used to finance the construction, reconstruction and rehabilitation of capital facilities within the commonwealth.
| Issuer: | Commonwealth of Pennsylvania
|
| Issue: | Second series 2013 general obligation bonds
|
| Amount: | $749.9 million
|
| Type: | Competitive
|
| Rating: | Fitch: AA
|
| Pricing date: | Oct. 22
|
| Settlement date: | Nov. 7
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $22,275,000 | 2014 | Serial | 3% | 102.653 | 0.17%
|
| $23,525,000 | 2015 | Serial | 5% | 108.895 | 0.39%
|
| $24.73 million | 2016 | Serial | 5% | 112.642 | 0.65%
|
| $26 million | 2017 | Serial | 5% | 115.494 | 0.98%
|
| $27.33 million | 2018 | Serial | 5% | 117.486 | 1.33%
|
| $28,735,000 | 2019 | Serial | 5% | 118.379 | 1.73%
|
| $30,205,000 | 2020 | Serial | 5% | 118.775 | 2.08%
|
| $31,755,000 | 2021 | Serial | 5% | 118.849 | 2.38%
|
| $33,385,000 | 2022 | Serial | 5% | 119.119 | 2.59%
|
| $35,095,000 | 2023 | Serial | 5% | 119.352 | 2.76%
|
| $36,895,000 | 2024 | Serial | 5% | 117.829 | 2.92%
|
| $38.79 million | 2025 | Serial | 5% | 116.05 | 3.11%
|
| $40.78 million | 2026 | Serial | 5% | 114.577 | 3.27%
|
| $42.87 million | 2027 | Serial | 5% | 113.216 | 3.42%
|
| $45,065,000 | 2028 | Serial | 4% | 101.64 | 3.80%
|
| $47.38 million | 2029 | Serial | 5% | 110.376 | 3.74%
|
| $49.81 million | 2030 | Serial | 5% | 109.333 | 3.86%
|
| $52.36 million | 2031 | Serial | 5% | 108.645 | 3.94%
|
| $55,045,000 | 2032 | Serial | 5% | 107.876 | 4.03%
|
| $57.87 million | 2033 | Serial | 4.375% | 99.667 | 4.40%
|
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