By Sheri Kasprzak
New York, Aug. 13 - The School Building Authority of West Virginia priced $102.145 million in excess lottery revenue bonds, according to an official statement released Wednesday.
The bonds (A2/AAA/A) were sold on a negotiated basis with Merrill Lynch as the lead manager and Raymond James & Associates as the co-manager.
The bonds are due 2009 to 2028 with coupons from 3% to 5.25% and yields from 1.95% to 5.13%.
Proceeds will be used for constructing, equipping, acquiring and improving new and existing school facilities.
Issuer: | School Building Authority of West Virginia
|
Issue: | Excess lottery revenue bonds
|
Amount: | $102.145 million
|
Type: | Negotiated
|
Underwriters: | Merrill Lynch (lead), Raymond James & Associates (co-manager)
|
Ratings: | Moody's: A2
|
| Standard & Poor's: AAA
|
| Fitch: A
|
Pricing date: | Aug. 8
|
Settlement date: | Aug. 20
|
|
Maturity | Type | Coupon | Yield
|
2009 | Serial | 3% | 1.95%
|
2010 | Serial | 3% | 2.58%
|
2011 | Serial | 3.5% | 3.10%
|
2011 | Serial | 4.5% | 3.10%
|
2012 | Serial | 5% | 3.36%
|
2013 | Serial | 4% | 3.55%
|
2013 | Serial | 5% | 3.55%
|
2014 | Serial | 4% | 3.74%
|
2014 | Serial | 5% | 3.74%
|
2015 | Serial | 4% | 3.92%
|
2015 | Serial | 5% | 3.92%
|
2016 | Serial | 4% | 4.10%
|
2016 | Serial | 5% | 4.10%
|
2017 | Serial | 4.125% | 4.26%
|
2017 | Serial | 5% | 4.26%
|
2018 | Serial | 4.25% | 4.38%
|
2018 | Serial | 5% | 4.38%
|
2019 | Serial | 5% | 4.54%
|
2020 | Serial | 5.25% | 4.69%
|
2021 | Serial | 5.25% | 4.80%
|
2022 | Serial | 5.25% | 4.87%
|
2023 | Serial | 4.75% | 4.91%
|
2023 | Serial | 4.625% | 4.91%
|
2024 | Serial | 5.25% | 4.97%
|
2025 | Serial | 5.25% | 5.03%
|
2026 | Serial | 5% | 5.08%
|
2027 | Serial | 5% | 5.11%
|
2028 | Serial | 5% | 5.13%
|
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