Published on 3/17/2015 in the Prospect News Municipals Daily.
New Issue: Wisconsin brings to market $171.05 million of general obligation bonds
By Sheri Kasprzak
New York, March 17 – The State of Wisconsin priced $171,045,000 of series 2015-1 general obligation refunding bonds, according to a pricing sheet.
The bonds (Aa2/AA/AA) were sold through lead manager Morgan Stanley & Co. LLC.
The bonds are due 2015 and 2017 to 2025 with term bonds due in 2027 and 2029. The serial coupons range from 1% to 5% with 0.11% to 2.34% yields. The 2027 bonds have a 5% coupon priced at 121.593 to yield 2.55% and the 2029 bonds have a 5% coupon priced at 119.925 to yield 2.72%.
Proceeds will be used to refund existing G.O. debt.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2015-1 general obligation refunding bonds
|
| Amount: | $171,045,000
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | March 17
|
| Settlement date: | April 14
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $60,285,000 | 2015 | Serial | 1% | 100.486 | 0.11%
|
| $250,000 | 2017 | Serial | 4% | 106.759 | 0.67%
|
| $260,000 | 2018 | Serial | 4% | 108.792 | 1.06%
|
| $270,000 | 2019 | Serial | 5% | 114.413 | 1.33%
|
| $285,000 | 2020 | Serial | 5% | 116.739 | 1.54%
|
| $300,000 | 2021 | Serial | 5% | 118.697 | 1.73%
|
| $315,000 | 2022 | Serial | 5% | 119.627 | 2.00%
|
| $330,000 | 2023 | Serial | 5% | 121.038 | 2.14%
|
| $17.12 million | 2024 | Serial | 3% | 122.396 | 2.25%
|
| $20 million | 2025 | Serial | 3% | 105.878 | 2.34%
|
| $16.68 million | 2025 | Serial | 5% | 123.692 | 2.34%
|
| $27,505,000 | 2027 | Term | 5% | 121.593 | 2.55%
|
| $27,445,000 | 2029 | Term | 5% | 119.925 | 2.72%
|
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