By Sheri Kasprzak
New York, Aug. 3 – The State of Wisconsin priced $598.13 million of series 2016 general fund appropriation refunding bonds, according to a pricing sheet.
The offering included $399.83 million of series 2016A taxable refunding bonds and $198.3 million of series 2016B taxable refunding bonds.
The 2016A bonds are due 2020 to 2027 with 1.446% to 2.483% coupons all priced at par. The 2016B bonds are due 2020 to 2029 with term bonds due in 2033 and 2037. The serial coupons range from 1.446% to 2.733%, all priced at par. The 2033 bonds have a 3.194% coupon, and the 2037 bonds have a 3.294% coupon, both priced at par.
The bonds were sold through Stifel, Nicolaus & Co. and Ramirez & Co. Inc.
Proceeds will be used to refund the state’s series 2003 and 2009 state appropriation bonds.
| Issuer: | State of Wisconsin
|
| Issue: | Series 2016 general fund appropriation refunding bonds
|
| Amount: | $598.13 million
|
| Type: | Negotiated
|
| Underwriters: | Stifel, Nicolaus & Co. and Ramirez & Co. Inc. (lead), Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 16
|
|
|
| $399.83 million series 2016A taxable refunding bonds
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 1.446% | 100
|
| 2021 | Serial | 1.616% | 100
|
| 2022 | Serial | 1.899% | 100
|
| 2023 | Serial | 2.049% | 100
|
| 2024 | Serial | 2.183% | 100
|
| 2025 | Serial | 2.333% | 100
|
| 2026 | Serial | 2.383% | 100
|
| 2027 | Serial | 2.483% | 100
|
|
|
| $198.3 million series 2016B taxable refunding bonds
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 1.446% | 100
|
| 2021 | Serial | 1.616% | 100
|
| 2022 | Serial | 1.899% | 100
|
| 2023 | Serial | 2.049% | 100
|
| 2024 | Serial | 2.183% | 100
|
| 2025 | Serial | 2.333% | 100
|
| 2026 | Serial | 2.383% | 100
|
| 2027 | Serial | 2.483% | 100
|
| 2028 | Serial | 2.633% | 100
|
| 2029 | Serial | 2.733% | 100
|
| 2033 | Term | 3.194% | 100
|
| 2037 | Term | 3.294% | 100
|
|
|
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