By Sheri Kasprzak
New York, Oct. 14 - The State of Washington priced $1,022,485,000 of series 2012 general obligation refunding and motor vehicle tax G.O. bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold through senior managers Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
The offering included $461.38 million of series R-2012A G.O. refunding bonds, $42.33 million of series 2012B motor vehicle fuel tax G.O. refunding bonds and $518.775 million of series 520 motor vehicle tax G.O. bonds.
The R-2012A bonds are due 2012 to 2024 with 1.5% to 5% coupons. The 2012B bonds are due 2012 and 2014 to 2024 with 1.5% to 5% coupons. The series 520 bonds are due 2017 to 2033 with a term bond due in 2041. The serial coupons range from 5% to 5.25%.
Proceeds will be used to fund a portion of the Department of Transportation's SR 520 floating bridge and eastside project. The remainder will be used to refund existing debt.
| Issuer: | State of Washington
|
| Issue: | Series 2012 general obligation refunding and motor vehicle tax G.O. bonds
|
| Amount: | $1,022,485,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Oct. 13
|
| Settlement date: | Nov. 9
|
|
|
| $461.38 million series R-2012A
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.085 million | 2012 | Serial | 1.5% | 100.198
|
| $26.87 million | 2012 | Serial | 2% | 101.145
|
| $33.72 million | 2013 | Serial | 4% | 105.554
|
| $43.15 million | 2014 | Serial | 5% | 110.633
|
| $45.425 million | 2015 | Serial | 5% | 113.164
|
| $25.435 million | 2016 | Serial | 3% | 106.01
|
| $22.11 million | 2016 | Serial | 5% | 114.916
|
| $49.96 million | 2017 | Serial | 5% | 116.224
|
| $52.645 million | 2018 | Serial | 5% | 117.217
|
| $36.685 million | 2019 | Serial | 5% | 117.294
|
| $18.62 million | 2020 | Serial | 5% | 117.286
|
| $19.575 million | 2021 | Serial | 5% | 117.922
|
| $33.395 million | 2022 | Serial | 5% | 117.706
|
| $23.74 million | 2023 | Serial | 5% | 117.485
|
| $24.965 million | 2024 | Serial | 5% | 116.89
|
|
|
| $42.33 million series 2012B motor vehicle fuel tax refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $645,000 | 2012 | Term | 1.5% | 100.187
|
| $965,000 | 2014 | Serial | 2% | 102.814
|
| $1.005 million | 2015 | Serial | 3% | 106.067
|
| $1.05 million | 2016 | Serial | 3% | 106.01
|
| $1.095 million | 2017 | Serial | 4% | 110.904
|
| $1.15 million | 2018 | Serial | 4% | 111.068
|
| $1.205 million | 2019 | Serial | 4% | 110.376
|
| $1.265 million | 2020 | Serial | 4% | 109.636
|
| $1.315 million | 2021 | Serial | 4% | 109.546
|
| $10.82 million | 2022 | Serial | 5% | 117.706
|
| $11.39 million | 2023 | Serial | 5% | 117.485
|
| $10.425 million | 2024 | Serial | 5% | 116.89
|
|
|
| $518.775 million series 520 motor vehicle tax bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.835 million | 2017 | Serial | 5% | 116.059
|
| $11.375 million | 2018 | Serial | 5% | 117.071
|
| $11.945 million | 2019 | Serial | 5% | 117.17
|
| $12.54 million | 2020 | Serial | 5% | 117.179
|
| $13.165 million | 2021 | Serial | 5% | 117.824
|
| $13.825 million | 2022 | Serial | 5% | 117.621
|
| $14.515 million | 2023 | Serial | 5% | 117.411
|
| $15.24 million | 2024 | Serial | 5% | 116.825
|
| $16.005 million | 2025 | Serial | 5% | 116.221
|
| $16.805 million | 2026 | Serial | 5.25% | 119.978
|
| $17.685 million | 2027 | Serial | 5.25% | 119.677
|
| $18.615 million | 2028 | Serial | 5% | 114.793
|
| $19.545 million | 2029 | Serial | 5% | 114.313
|
| $20.525 million | 2030 | Serial | 5% | 113.87
|
| $21.55 million | 2031 | Serial | 5% | 113.485
|
| $22.625 million | 2032 | Serial | 5% | 113.327
|
| $23.76 million | 2033 | Serial | 5% | 113.269
|
| $238.22 million | 2041 | Term | 5% | 113.474
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
