By Sheri Kasprzak
New York, Jan. 7 - The state of Washington priced $400 million in series 2009 general obligation bonds on Wednesday, said Karl Roeber, spokesman for the state treasurer's office.
The sale included $270 million in series 2009C various purpose G.O.s and $130 million in series 2009D motor vehicle fuel tax G.O.s.
The 2009C bonds priced with a 4.557% true interest cost with J.P. Morgan Securities Inc. as the winning bidder for the competitive sale. The 2009C bonds are due 2010 to 2034.
The 2009D bonds priced with a 4.565% true interest cost. JPMorgan was the winning bidder for the 2009D bonds as well, which are also due 2010 to 2034.
There were five bidders for each offering. Those bidders were JPMorgan; Barclays Capital Inc.; Merrill Lynch & Co.; Citigroup Global Markets Inc.; and Goldman, Sachs & Co.
The coupons and yields for the deal were not immediately available.
Proceeds from the 2009C bonds will be used for capital purposes, including projects at state buildings and facilities for higher education, multimodal transportation projects, flood hazard mitigation, public school skill center facilities and the rehabilitation of Puget Sound.
Proceeds from the 2009D bonds will be used for expenses related to highway improvements, the construction of 2003 projects or improvements and the construction of 2005 transportation partnership projects or improvements.
| Issuer: | State of Washington
|
| Issue: | Series 2009 general obligation bonds
|
| Amount: | $400 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| Maturities: | 2010 to 2034
|
| TIC: | 4.557% for 2009C and 4.565% for 2009D
|
| Pricing date: | Jan. 7
|
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