Published on 7/11/2012 in the Prospect News Municipals Daily.
New Issue: Wisconsin prices $147.45 million of clean water revenue bonds
By Sheri Kasprzak
New York, July 11 - The State of Wisconsin sold $147.45 million of series 2012 clean water revenue bonds, according to a pricing sheet.
The offering includes $55 million of series 2012-1 clean water revenue bonds and $92.45 million of series 2012-2 clean water revenue refunding bonds.
The 2012-1 bonds are due 2014 to 2033 with 2% to 5% coupons. The 2012-2 bonds are due 2015 to 2024 with coupons from 2.625% to 5%.
The bonds were sold through J.P. Morgan Securities LLC and Ramirez & Co. Inc. The co-managers were BMO Capital Markets LLC, Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co. and Jefferies & Co.
Proceeds will be used to make pledged loans to municipalities for the construction of improvements to wastewater treatment facilities, as well as refund existing debt.
Issuer: | State of Wisconsin
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Issue: | Series 2012 clean water revenue bonds
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Amount: | $147.45 million
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Type: | Negotiated
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Underwriters: | J.P. Morgan Securities LLC and Ramirez & Co. Inc. (lead), BMO Capital Markets LLC, Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co. and Jefferies & Co. (co-managers)
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Pricing date: | July 11
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Settlement date: | July 26
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$55 million series 2012-1 clean water revenue bonds
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Amount | Maturity | Type | Coupon | Price
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$1,945,000 | 2014 | Serial | 2% | 102.904
|
$1.98 million | 2015 | Serial | 3% | 106.852
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$2.04 million | 2016 | Serial | 3% | 108.595
|
$2,105,000 | 2017 | Serial | 3% | 109.588
|
$2,165,000 | 2018 | Serial | 4% | 115.58
|
$2.25 million | 2019 | Serial | 4% | 116.35
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$2.34 million | 2020 | Serial | 4% | 116.748
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$2,435,000 | 2021 | Serial | 4% | 116.67
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$2,535,000 | 2022 | Serial | 4% | 117.208
|
$2,635,000 | 2023 | Serial | 5% | 124.065
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$2,765,000 | 2024 | Serial | 5% | 122.482
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$2,905,000 | 2025 | Serial | 5% | 121.31
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$3.05 million | 2026 | Serial | 5% | 120.439
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$3,205,000 | 2027 | Serial | 5% | 119.576
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$3,365,000 | 2028 | Serial | 5% | 118.816
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$3.53 million | 2029 | Serial | 5% | 118.155
|
$3,705,000 | 2030 | Serial | 5% | 117.498
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$3,895,000 | 2031 | Serial | 5% | 116.846
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$4,085,000 | 2032 | Serial | 5% | 116.198
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$2,065,000 | 2033 | Serial | 5% | 115.554
|
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$92.45 million series 2012-2 clean water revenue refunding bonds
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Amount | Maturity | Type | Coupon | Price
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$4.5 million | 2015 | Serial | 5% | 112.492
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$4.73 million | 2016 | Serial | 5% | 116.169
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$9,305,000 | 2017 | Serial | 5% | 119.035
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$9,825,000 | 2018 | Serial | 5% | 121.205
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$10,335,000 | 2019 | Serial | 5% | 122.839
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$10.86 million | 2020 | Serial | 5% | 124.061
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$5 million | 2021 | Serial | 2.625% | 105.542
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$6.42 million | 2021 | Serial | 5% | 124.764
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$11.89 million | 2022 | Serial | 5% | 126.079
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$12,495,000 | 2023 | Serial | 5% | 125.786
|
$7.09 million | 2024 | Serial | 5% | 125.611
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