By Sheri Kasprzak
New York, Oct. 13 - The State of Tennessee priced Thursday $317.67 million of series 2011 general obligation bonds, said a pricing sheet. The deal was downsized from $361.055 million.
The offering included $255.4 million of series 2011A G.O. bonds and $62.27 million of series 2011B G.O. refunding bonds.
The 2011A bonds are due 2012 to 2031 with 2% to 5% coupons. The 2011B bonds are due 2012 to 2025 with 2% to 5% coupons.
The bonds (Aaa/AA+/AAA) were sold through Citigroup Global Markets Inc. and Barclays Capital Markets Inc. The co-managers were Morgan Keegan & Co. Inc.; Morgan Stanley & Co. LLC; SunTrust Robinson Humphrey Inc.; Wells Fargo Securities LLC; and Wiley Bros.-Aintree Capital LLC.
Proceeds will be used to finance capital projects and refund commercial paper issued to fund previous capital projects.
| Issuer: | State of Tennessee
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $317.67 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Barclays Capital Inc. (lead), Morgan Keegan & Co. Inc.; Morgan Stanley & Co. LLC; SunTrust Robinson Humphrey Inc.; Wells Fargo Securities LLC; and Wiley Bros.-Aintree Capital LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 26
|
|
|
| $255.4 million series 2011A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $12.77 million | 2012 | Serial | 2% | 101.634
|
| $12.77 million | 2013 | Serial | 5% | 108.634
|
| $12.77 million | 2014 | Serial | 5% | 112.233
|
| $12.77 million | 2015 | Serial | 5% | 114.961
|
| $12.77 million | 2016 | Serial | 5% | 116.832
|
| $12.77 million | 2017 | Serial | 5% | 118.292
|
| $12.77 million | 2018 | Serial | 5% | 119.109
|
| $12.77 million | 2019 | Serial | 5% | 119.15
|
| $12.77 million | 2020 | Serial | 5% | 119.191
|
| $12.77 million | 2021 | Serial | 5% | 119.915
|
| $12.77 million | 2022 | Serial | 5% | 118.384
|
| $12.77 million | 2023 | Serial | 5% | 117.251
|
| $12.77 million | 2024 | Serial | 5% | 116.131
|
| $12.77 million | 2025 | Serial | 5% | 115.115
|
| $12.77 million | 2026 | Serial | 5% | 114.11
|
| $12.77 million | 2027 | Serial | 5% | 113.206
|
| $12.77 million | 2028 | Serial | 5% | 112.488
|
| $12.77 million | 2029 | Serial | 5% | 111.688
|
| $12.77 million | 2030 | Serial | 5% | 111.158
|
| $12.77 million | 2031 | Serial | 5% | 110.631
|
|
|
| $62.27 million series 2011B G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $185,000 | 2012 | Serial | 2% | 101.342
|
| $6.635 million | 2014 | Serial | 5% | 111.544
|
| $6.65 million | 2015 | Serial | 5% | 114.339
|
| $6.7 million | 2016 | Serial | 5% | 116.281
|
| $6.74 million | 2017 | Serial | 5% | 117.802
|
| $6.78 million | 2018 | Serial | 5% | 118.679
|
| $6.96 million | 2019 | Serial | 5% | 118.78
|
| $7 million | 2020 | Serial | 5% | 118.869
|
| $7.045 million | 2021 | Serial | 5% | 119.62
|
| $7.085 million | 2022 | Serial | 5% | 118.114
|
| $125,000 | 2023 | Serial | 3% | 100.165
|
| $180,000 | 2024 | Serial | 3% | 98.949
|
| $185,000 | 2025 | Serial | 3% | 97.675
|
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