By Sheri Kasprzak
New York, Oct. 12 - The State of Tennessee sold $228.985 million of series 2011C taxable general obligation bonds, according to a pricing sheet.
The bonds were sold through senior managers J.P. Morgan Securities LLC and Goldman Sachs & Co. The co-managers were Bank of America Merrill Lynch, Siebert Brandford Shank & Co. LLC and Stephens Inc.
The bonds are due 2012 to 2026 with a term bond due in 2031. The serial coupons range from 0.5% to 3.928%. The 2031 bonds have a 4.182% coupon priced at par.
Proceeds will be used to fund capital projects and refund the state's series 2002B, 2003B and 2005A bonds.
| Issuer: | State of Tennessee
|
| Issue: | Series 2011C taxable general obligation bonds
|
| Amount: | $228.985 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Goldman Sachs & Co. (lead); Bank of America Merrill Lynch, Siebert Brandford Shank & Co. LLC and Stephens Inc. | (co-managers)
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $11.265 million | 2012 | Serial | 0.50% | 100.19
|
| $11.235 million | 2013 | Serial | 0.559% | 100
|
| $12.65 million | 2014 | Serial | 0.941% | 100
|
| $12.575 million | 2015 | Serial | 1.375% | 100
|
| $12.51 million | 2016 | Serial | 1.675% | 100
|
| $12.455 million | 2017 | Serial | 2.326% | 100
|
| $12.39 million | 2018 | Serial | 2.676% | 100
|
| $12.4 million | 2019 | Serial | 2.928% | 100
|
| $12.355 million | 2020 | Serial | 3.178% | 100
|
| $12.31 million | 2021 | Serial | 3.228% | 100
|
| $11.68 million | 2022 | Serial | 3.378% | 100
|
| $11.6 million | 2023 | Serial | 3.528% | 100
|
| $10.445 million | 2024 | Serial | 3.728% | 100
|
| $10.445 million | 2025 | Serial | 3.828% | 100
|
| $10.445 million | 2026 | Serial | 3.928% | 100
|
| $52.225 million | 2031 | Term | 4.182% | 100
|
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