Published on 7/20/2011 in the Prospect News Municipals Daily.
New Issue: Washington State prices $89.35 million of motor vehicle fuel tax G.O.s
By Sheri Kasprzak
New York, July 20 - The State of Washington sold $89.35 million of series 2012B-2 motor vehicle fuel tax general obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold on a negotiated basis with J.P. Morgan Securities LLC as the lead manager.
The bonds are due 2013 to 2023 with term bonds due in 2031 and 2036. The serial coupons range from 2% to 5%. The 2031 bonds have a 4% coupon priced at 98.913, and the 2036 bonds have a 4.375% coupon priced at 98.43.
Proceeds will be used to fund state and local highway improvements.
| Issuer: | State of Washington
|
| Issue: | Series 2012B-2 motor vehicle fuel tax general obligation bonds
|
| Amount: | $89.35 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | July 20
|
| Settlement date: | Aug. 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.435 million | 2013 | Serial | 2% | 103.013
|
| $41.255 million | 2013 | Serial | 4% | 106.978
|
| $2.135 million | 2014 | Serial | 2% | 103.694
|
| $3.32 million | 2014 | Serial | 4% | 109.605
|
| $2.17 million | 2015 | Serial | 2% | 103.706
|
| $2.17 million | 2015 | Serial | 4% | 111.51
|
| $2.995 million | 2016 | Serial | 2% | 103.08
|
| $1.5 million | 2016 | Serial | 5% | 117.518
|
| $2.485 million | 2017 | Serial | 2% | 101.531
|
| $2.17 million | 2017 | Serial | 5% | 118.543
|
| $2.505 million | 2018 | Serial | 3% | 105.759
|
| $2.335 million | 2018 | Serial | 5% | 118.701
|
| $2.22 million | 2019 | Serial | 3% | 103.823
|
| $2.74 million | 2019 | Serial | 5% | 118.252
|
| $820,000 | 2020 | Serial | 3% | 102.3
|
| $555,000 | 2020 | Serial | 5% | 118.17
|
| $700,000 | 2021 | Serial | 3% | 101.035
|
| $310,000 | 2021 | Serial | 5% | 118.297
|
| $2.635 million | 2022 | Serial | 3% | 99.35
|
| $425,000 | 2022 | Serial | 5% | 116.502
|
| $1.575 million | 2023 | Serial | 3.125% | 98.668
|
| $320,000 | 2023 | Serial | 5% | 114.739
|
| $2.865 million | 2031 | Term | 4% | 98.913
|
| $5.71 million | 2036 | Term | 4.375% | 98.43
|
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