By Sheri Kasprzak
New York, Nov. 25 -Wisconsin sold $100 million in series 2008-3 clean water revenue bonds on Tuesday, said David Erdman with the state's Department of Administration.
The bonds were sold through lead manager Morgan Stanley & Co. Inc. The co-managers were M.R. Beal & Co. and Merrill Lynch & Co.
The bonds are due 2010 to 2026 with a term bond due 2025. The serials have coupons from 3% to 5.25% and yields from 2.22% to 5.27%. The 2025 bond has a 5.5% coupon to yield 5.2%.
The proceeds will be used for making pledged loans to municipalities for improvements to wastewater treatment facilities.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2008-3 clean water revenue bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); M.R. Beal & Co.; Merrill Lynch & Co. (co-managers)
|
| Pricing date: | Nov. 25
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 4% | 2.22%
|
| 2011 | Serial | 5% | 2.51%
|
| 2012 | Serial | 5% | 2.90%
|
| 2013 | Serial | 3% | 3.18%
|
| 2014 | Serial | 5% | 3.42%
|
| 2015 | Serial | 3.5% | 3.62%
|
| 2016 | Serial | 5% | 3.83%
|
| 2017 | Serial | 4% | 4.08%
|
| 2018 | Serial | 5% | 4.28%
|
| 2019 | Serial | 5% | 4.52%
|
| 2020 | Serial | 5% | 4.74%
|
| 2021 | Serial | 5.25% | 4.87%
|
| 2026 | Serial | 5.125% | 5.27%
|
| 2025 | Term | 5.5% | 5.20%
|
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