By Sheri Kasprzak
New York, July 6 - The State of Wisconsin priced $800 million of series 2011 operating notes on Wednesday in two tranches, said David Erdman assistant capital finance director with the state's Capital Finance Office.
The notes (MIG1//F1+) were sold competitively in two tranches with Wells Fargo Bank, NA winning a $750 million tranche and Goldman Sachs & Co. taking the remaining $50 million piece. The combined net interest cost was 0.22022%, Erdman said.
The notes are due June 15, 2012 and have a 2% coupon priced at 101.618.
Proceeds will be used to finance general cash flow requirements.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2011 operating notes
|
| Amount: | $750 million
|
| Maturity: | June 15, 2012
|
| Coupon: | 2%
|
| Price: | 101.618
|
| Type: | Competitive
|
| Underwriters: | Wells Fargo Bank, NA (for $750 million); Goldman Sachs & Co. (for $50 million)
|
| Net interest cost: | 0.22022%
|
| Ratings: | Moody's: MIG1
|
| Fitch: F1+
|
| Pricing date: | July 6
|
| Settlement date: | July 19
|
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