By Sheri Kasprzak
New York, Dec. 2 -Tennessee priced $290 million in series 2009 general obligation bonds on Wednesday, according to a term sheet.
The deal included $235.89 million in series 2009C tax-exempt bonds and $54.11 million in series 2009D taxable G.O. bonds.
The 2009C bonds are due 2011 to 2030 with coupons from 2.5% to 5%. The 2009D bonds are due 2013 to 2024 with a term bond due 2029. The serials have coupons from 1.865% to 4.941%, all priced at par. The 2029 bonds have a 5.589% coupon, also priced at par.
Barclays Capital Inc. was the lead manager.
Proceeds will be used to fund capital expenditures.
| Issuer: | Tennessee
|
| Issue: | Series 2009 general obligation bonds
|
| Amount: | $290 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc. (lead)
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 16
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2.5% | 102.708
|
| 2012 | Serial | 3% | 105.164
|
| 2013 | Serial | 4% | 109.685
|
| 2014 | Serial | 4% | 110.860
|
| 2014 | Serial | 5% | 115.086
|
| 2015 | Serial | 3% | 106.120
|
| 2015 | Serial | 5% | 116.322
|
| 2016 | Serial | 3% | 105.220
|
| 2016 | Serial | 5% | 117.086
|
| 2017 | Serial | 3% | 104.100
|
| 2017 | Serial | 5% | 117.549
|
| 2018 | Serial | 3% | 102.763
|
| 2018 | Serial | 5% | 117.707
|
| 2019 | Serial | 5% | 116.157
|
| 2020 | Serial | 5% | 114.790
|
| 2021 | Serial | 5% | 113.443
|
| 2022 | Serial | 5% | 113.050
|
| 2023 | Serial | 5% | 112.503
|
| 2024 | Serial | 5% | 111.881
|
| 2025 | Serial | 5% | 111.264
|
| 2026 | Serial | 5% | 110.650
|
| 2027 | Serial | 5% | 110.041
|
| 2028 | Serial | 5% | 109.360
|
| 2029 | Serial | 5% | 108.684
|
| 2030 | Serial | 5% | 107.938
|
|
|
| Series 2009D
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 1.865% | Par
|
| 2014 | Serial | 2.576% | Par
|
| 2015 | Serial | 2.826% | Par
|
| 2016 | Serial | 3.338% | Par
|
| 2017 | Serial | 3.821% | Par
|
| 2018 | Serial | 4.021% | Par
|
| 2019 | Serial | 4.121% | Par
|
| 2020 | Serial | 4.321% | Par
|
| 2021 | Serial | 4.521% | Par
|
| 2022 | Serial | 4.671% | Par
|
| 2023 | Serial | 4.821% | Par
|
| 2024 | Serial | 4.941% | Par
|
| 2029 | Term | 5.589% | Par
|
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