Published on 1/23/2013 in the Prospect News Municipals Daily.
New Issue: Washington State prices $1.39 billion of G.O. bonds
By Sheri Kasprzak
New York, Jan. 23 - The State of Washington sold $1,393,665,000 of series 2013 general obligation bonds, according to a pricing sheet. The deal was upsized from $1,231,300,000.
The deal included $230.58 million of series 2013D various purpose G.O. bonds, $666.68 million of series R-2013C various purpose G.O. refunding bonds, $159,405,000 of series R-2013D motor vehicle tax G.O. refunding bonds and $337 million of series 2013E motor vehicle tax G.O. bonds.
The series 2013D bonds are due 2014 to 2038 with 2% to 5% coupons.
The series R-2013C bonds are due 2013 to 2031 with coupons from 2% to 5%.
The series R-2013D bonds are due 2018 to 2031 with 3% to 5% coupons.
The 2013E bonds are due 2014 to 2039 with a term bond due in 2043. The serial coupons range from 2.8% to 5%. The 2043 bonds have a 4% coupon priced at 106.353.
The bonds were sold competitively.
Proceeds will be used to fund statewide capital projects, including transportation-related construction projects, as well as to refund existing debt for a present value savings, including the state's 1996 variable-rate demand G.O. bonds.
| Issuer: | State of Washington
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $1,393,665,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Jan. 23
|
| Settlement date: | Feb. 5
|
|
|
| $230.58 million series 2013D various purpose G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.33 million | 2014 | Serial | 2% | 101.777
|
| $5,385,000 | 2015 | Serial | 4% | 107.062
|
| $5,595,000 | 2016 | Serial | 5% | 113.078
|
| $5,815,000 | 2017 | Serial | 5% | 116.842
|
| $6.11 million | 2018 | Serial | 5% | 120.12
|
| $6,415,000 | 2019 | Serial | 5% | 122.673
|
| $6,735,000 | 2020 | Serial | 5% | 124.566
|
| $7,075,000 | 2021 | Serial | 5% | 126.086
|
| $7.43 million | 2022 | Serial | 5% | 127.018
|
| $7.8 million | 2023 | Serial | 5% | 127.873
|
| $8,185,000 | 2024 | Serial | 5% | 126.833
|
| $8.6 million | 2025 | Serial | 5% | 126.008
|
| $9,025,000 | 2026 | Serial | 5% | 125.189
|
| $9.39 million | 2027 | Serial | 3% | 101.469
|
| $9,765,000 | 2028 | Serial | 3% | 100.688
|
| $10,155,000 | 2029 | Serial | 3% | 100
|
| $10.56 million | 2030 | Serial | 3% | 99.34
|
| $10,985,000 | 2031 | Serial | 3% | 98.628
|
| $11,425,000 | 2032 | Serial | 3% | 98.572
|
| $11.88 million | 2033 | Serial | 4% | 110.393
|
| $12.36 million | 2034 | Serial | 4% | 109.844
|
| $12.85 million | 2035 | Serial | 4% | 109.298
|
| $13,355,000 | 2036 | Serial | 4% | 108.755
|
| $13.9 million | 2037 | Serial | 4% | 108.216
|
| $14,455,000 | 2038 | Serial | 4% | 107.68
|
|
|
| $666.68 million series R-2013C various purpose G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $9.58 million | 2013 | Serial | 2% | 100.741
|
| $8,455,000 | 2014 | Serial | 3% | 103.74
|
| $9,355,000 | 2015 | Serial | 4% | 108.383
|
| $27,125,000 | 2016 | Serial | 3% | 107.902
|
| $41.43 million | 2017 | Serial | 5% | 118.287
|
| $59.09 million | 2018 | Serial | 5% | 121.407
|
| $48,225,000 | 2019 | Serial | 5% | 123.917
|
| $30.37 million | 2020 | Serial | 5% | 125.639
|
| $31,935,000 | 2021 | Serial | 5% | 127.089
|
| $33.57 million | 2022 | Serial | 5% | 127.87
|
| $35.29 million | 2023 | Serial | 5% | 128.596
|
| $37.09 million | 2024 | Serial | 5% | 127.622
|
| $38.99 million | 2025 | Serial | 5% | 126.764
|
| $40,795,000 | 2026 | Serial | 4% | 114.752
|
| $42,445,000 | 2027 | Serial | 4% | 114.158
|
| $44,185,000 | 2028 | Serial | 4% | 113.47
|
| $61,365,000 | 2029 | Serial | 4% | 112.884
|
| $41,335,000 | 2030 | Serial | 3% | 100
|
| $26.05 million | 2031 | Serial | 3% | 99.298
|
|
|
| $159,405,000 series R-2013D motor vehicle tax G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $6,435,000 | 2018 | Serial | 5% | 121.113
|
| $6,775,000 | 2019 | Serial | 5% | 123.36
|
| $7,115,000 | 2020 | Serial | 5% | 125.319
|
| $7.48 million | 2021 | Serial | 5% | 126.729
|
| $7.87 million | 2022 | Serial | 5% | 127.671
|
| $8.27 million | 2023 | Serial | 5% | 128.596
|
| $8.7 million | 2024 | Serial | 5% | 127.622
|
| $9,145,000 | 2025 | Serial | 5% | 126.764
|
| $9.56 million | 2026 | Serial | 4% | 114.752
|
| $9.96 million | 2027 | Serial | 4% | 113.666
|
| $10.36 million | 2028 | Serial | 4% | 112.981
|
| $27.72 million | 2029 | Serial | 4% | 112.495
|
| $28.7 million | 2030 | Serial | 3% | 100
|
| $11,315,000 | 2031 | Serial | 3% | 99.437
|
|
|
| $337 million series 2013E motor vehicle fuel tax G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,695,000 | 2014 | Serial | 5% | 104.75
|
| $5.82 million | 2015 | Serial | 5% | 109.061
|
| $6.12 million | 2016 | Serial | 5% | 113.014
|
| $6.42 million | 2017 | Serial | 5% | 116.799
|
| $6.74 million | 2018 | Serial | 5% | 120.066
|
| $7.08 million | 2019 | Serial | 5% | 122.673
|
| $7.43 million | 2020 | Serial | 5% | 124.718
|
| $7.8 million | 2021 | Serial | 5% | 126.429
|
| $8,195,000 | 2022 | Serial | 5% | 127.687
|
| $8,605,000 | 2023 | Serial | 5% | 128.608
|
| $9.03 million | 2024 | Serial | 5% | 127.56
|
| $9,485,000 | 2025 | Serial | 5% | 126.73
|
| $9,955,000 | 2026 | Serial | 5% | 125.905
|
| $10,455,000 | 2027 | Serial | 2.8% | 99.769
|
| $10.75 million | 2028 | Serial | 2.9% | 99.878
|
| $11.06 million | 2029 | Serial | 4% | 111.965
|
| $11,505,000 | 2030 | Serial | 4% | 111.407
|
| $11.97 million | 2031 | Serial | 3% | 99.311
|
| $12.32 million | 2032 | Serial | 4% | 110.484
|
| $12.81 million | 2033 | Serial | 3% | 98.078
|
| $13.2 million | 2034 | Serial | 4% | 109.389
|
| $13.73 million | 2035 | Serial | 4% | 108.846
|
| $14,275,000 | 2036 | Serial | 4% | 108.306
|
| $14.85 million | 2037 | Serial | 3.25% | 98
|
| $15.33 million | 2038 | Serial | 4% | 106.97
|
| $15.95 million | 2039 | Serial | 4% | 106.705
|
| $70.42 million | 2043 | Term | 4% | 106.353
|
© 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.
