New Issue: Wisconsin sells $188.58 million of G.O. bonds with 3.485064% TIC

By Sheri Kasprzak

New York, May 22 - The State of Wisconsin came to market Tuesday with $188.58 million of series 2012A general obligation bonds, according to a pricing sheet.

The bonds (//AA) were sold competitively with J.P. Morgan Securities LLC winning the bid with a 3.485064% true interest cost, said David Erdman, director of bond finance for the state's Department of Administration.

The bonds are due 2022 and 2024 to 2035 with term bonds due in 2037 and 2042. The serial coupons range from 3% to 5%. The 2037 bonds have a 3.75% coupon priced at par, and the 2042 bonds have a 4% coupon priced at 100.869.

Proceeds will be used to finance capital improvement projects, including projects for the University of Wisconsin System.

Issuer:	State of Wisconsin
Issue:	Series 2012A general obligation bonds
Amount:	$188.58 million
Type:	Competitive
Underwriters:	J.P. Morgan Securities LLC (winner)
TIC:	3.485064%
Ratings:	Fitch: AA
Pricing date:	May 22
Settlement date:	June 5
Amount	Maturity	Type	Coupon	Price
$11,665,000	2022	Serial	5%	123.899
$11.04 million	2024	Serial	5%	121.179
$11,685,000	2025	Serial	5%	127.81
$13.41 million	2026	Serial	4%	108.494
$15.13 million	2027	Serial	3%	98.494
$14,975,000	2028	Serial	4%	106.954
$15.82 million	2029	Serial	4%	110.38
$16.69 million	2030	Serial	4%	105.598
$17,605,000	2031	Serial	4%	109.193
$18.56 million	2032	Serial	4%	104.574
$3.24 million	2033	Serial	4%	107.83
$3.52 million	2034	Serial	3.5%	98.745
$3.7 million	2035	Serial	3.5%	98.492
$7.96 million	2037	Term	3.75%	100
$23.58 million	2042	Term	4%	100.869

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