Published on 1/22/2014 in the Prospect News Municipals Daily.
New Issue: Washington brings to market $698.53 million of general obligation bonds
By Sheri Kasprzak
New York, Jan. 22 - The State of Washington sold $698.53 million of series 2014 general obligation bonds, according to a pricing sheet.
The deal included $344.94 million of series 2014D various purpose G.O. bonds, $265.71 million of series 2014E motor vehicle fuel tax G.O. bonds and $87.88 million of series 2014T-2 taxable G.O. bonds.
The 2014D bonds are due 2022 to 2039 with 5% to 5.25% coupons with 2.37% to 3.96% yields.
The 2014E bonds are due 2015 to 2039 with coupons from 5% to 6% coupons and yields from 0.15% to 3.96%.
The 2014T-2 bonds are due 2015 to 2022 with coupons from 0.2% to 3.05%, all priced at par.
The bonds (Aa1/AA+/AA+) were sold competitively.
Proceeds will be used to finance state capital projects and state highway projects.
Issuer: | State of Washington
|
Issue: | Series 2014 general obligation bonds
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Amount: | $698.53 million
|
Type: | Competitive
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
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| Fitch: AA+
|
Pricing date: | Jan. 22
|
Settlement date: | Feb. 5
|
|
$344.94 million series 2014D various purpose G.O. bonds
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$6.61 million | 2022 | Serial | 5.25% | 120.848 | 2.37%
|
$13,095,000 | 2023 | Serial | 5% | 119.215 | 2.59%
|
$13,745,000 | 2024 | Serial | 5% | 119.632 | 2.74%
|
$14,435,000 | 2025 | Serial | 5% | 118.288 | 2.88%
|
$15,155,000 | 2026 | Serial | 5% | 117.057 | 3.01%
|
$15,915,000 | 2027 | Serial | 5% | 115.748 | 3.15%
|
$16.71 million | 2028 | Serial | 5% | 114.64 | 3.27%
|
$17,545,000 | 2029 | Serial | 5% | 113.727 | 3.37%
|
$18,425,000 | 2030 | Serial | 5% | 112.912 | 3.46%
|
$19,345,000 | 2031 | Serial | 5% | 112.104 | 3.55%
|
$20.31 million | 2032 | Serial | 5% | 111.303 | 3.64%
|
$21,325,000 | 2033 | Serial | 5% | 110.685 | 3.71%
|
$22,395,000 | 2034 | Serial | 5% | 109.983 | 3.79%
|
$23,515,000 | 2035 | Serial | 5% | 109.548 | 3.84%
|
$24.69 million | 2036 | Serial | 5% | 109.374 | 3.86%
|
$25,925,000 | 2037 | Serial | 5% | 109.028 | 3.90%
|
$27.22 million | 2038 | Serial | 5% | 108.769 | 3.93%
|
$28.58 million | 2039 | Serial | 5% | 108.51 | 3.96%
|
|
$265.71 million series 2014E motor vehicle fuel tax G.O. bonds
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$5,575,000 | 2015 | Serial | 6% | 105.778 | 0.15%
|
$5.76 million | 2016 | Serial | 6% | 111.23 | 0.33%
|
$6,105,000 | 2017 | Serial | 5% | 113.269 | 0.52%
|
$6.41 million | 2018 | Serial | 5% | 116.071 | 0.89%
|
$6.73 million | 2019 | Serial | 5% | 118.188 | 1.23%
|
$7.07 million | 2020 | Serial | 5% | 119.028 | 1.65%
|
$7.42 million | 2021 | Serial | 5% | 119.26 | 2.03%
|
$7.79 million | 2022 | Serial | 5.25% | 121.01 | 2.35%
|
$8.2 million | 2023 | Serial | 5.25% | 121.209 | 2.59%
|
$8.63 million | 2024 | Serial | 5.25% | 121.803 | 2.74%
|
$9,085,000 | 2025 | Serial | 5% | 118.288 | 2.88%
|
$9.54 million | 2026 | Serial | 5% | 117.057 | 3.01%
|
$10,015,000 | 2027 | Serial | 5% | 115.748 | 3.15%
|
$10,515,000 | 2028 | Serial | 5% | 114.64 | 3.27%
|
$11.04 million | 2029 | Serial | 5% | 113.727 | 3.37%
|
$11,595,000 | 2030 | Serial | 5% | 112.912 | 3.46%
|
$12,175,000 | 2031 | Serial | 5% | 112.104 | 3.55%
|
$12.78 million | 2032 | Serial | 5% | 111.303 | 3.64%
|
$13.42 million | 2033 | Serial | 5% | 110.685 | 3.71%
|
$14.09 million | 2034 | Serial | 5% | 110.246 | 3.76%
|
$14,795,000 | 2035 | Serial | 5% | 109.809 | 3.81%
|
$15.54 million | 2036 | Serial | 5% | 109.374 | 3.86%
|
$16,315,000 | 2037 | Serial | 5% | 109.028 | 3.90%
|
$17.13 million | 2038 | Serial | 5% | 108.769 | 3.93%
|
$17,985,000 | 2039 | Serial | 5% | 108.51 | 3.96%
|
|
$87.88 million series 2014T-2 taxable G.O. bonds
|
Amount | Maturity | Type | Coupon | Price
|
$11.59 million | 2015 | Serial | 0.20% | 100
|
$11,405,000 | 2016 | Serial | 0.48% | 100
|
$11.46 million | 2017 | Serial | 0.88% | 100
|
$11.56 million | 2018 | Serial | 1.33% | 100
|
$11,715,000 | 2019 | Serial | 1.98% | 100
|
$11.95 million | 2020 | Serial | 2.41% | 100
|
$12,235,000 | 2021 | Serial | 2.70% | 100
|
$5,965,000 | 2022 | Serial | 3.05% | 100
|
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