By Cristal Cody
Springdale, Ark., July 9 - The state of Washington priced $823.09 million general obligation bonds with 4.147% to 4.559% true interest costs in competitive sales on Wednesday, a source told Prospect News.
The $492.505 million series 2009A various purpose general obligation bonds priced with a 4.559% true interest cost from winning bidder Merrill Lynch & Co.
The $260 million series 2009B motor vehicle fuel tax general obligation bonds priced with a 4.512% true interest cost from winning bidder Lehman Brothers.
The $70.585 million series 2009T taxable bonds priced with a 4.147% true interest cost from winning bidder Citigroup Global Markets.
The bonds (/AA+/AA) were sold with 4.5% to 4.6% interest rates.
The series 2009A and 2009B bonds have serial maturities from 2009 through 2033.
The series 2009T bonds have maturities from 2009 through 2014.
Proceeds will be used to fund capital projects, multimodal transportation and public school skill centers.
| Issuer: | Washington
|
| Issue: | General obligation bonds
|
| Total amount: | $823.09 million
|
| Type: | Competitive
|
| Interest rates: | 4.5%-4.6%
|
| Ratings: | Standard & Poor's: AA+
|
| Fitch: AA
|
| Pricing date: | July 9
|
| Settlement date: | July 23
|
|
|
| Series 2009A
|
| Issue: | Various purpose bonds
|
| Amount: | $492.505 million
|
| True interest cost: | 4.559%
|
| Maturities: | 2009-2033
|
| Underwriter: | Merrill Lynch & Co.
|
|
|
| Series 2009B
|
| Issue: | Motor vehicle fuel tax bonds
|
| Amount: | $260 million
|
| True interest cost: | 4.512%
|
| Maturities: | 2009-2033
|
| Underwriter: | Lehman Brothers
|
|
|
| Series 2009T
|
| Issue: | Taxable bonds
|
| Amount: | $70.585 million
|
| True interest cost: | 4.147%
|
| Maturities: | 2009-2014
|
| Underwriter: | Citigroup Global Markets
|
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