By Sheri Kasprzak
New York, April 27 - The state of Connecticut priced $581.245 million in series 2009 general obligation bond anticipation notes on Thursday, according to an official statement released Monday.
The notes (MIG1/SP-1+/F1+) were downsized from the planned $600 million size.
The sale included $353.085 million in series 2009A bonds due April 28, 2010 and $228.16 million in series 2009B bonds due June 1, 2011.
The 2009A bonds have a 2% coupon to yield 0.47%. The 2009B bonds include $9.065 million in bonds with a 2% coupon to yield 1.15% and $219.095 million in bonds with a 4% coupon to yield 1.15%.
J.P. Morgan Securities Inc. was the lead manager. The co-managers were Citigroup Global Markets Inc., Goldman, Sachs & Co., and M.R. Beal & Co.
The proceeds will be used to pay for housing development and rehabilitation, as well as to refund existing debt.
| Issuer: | Connecticut
|
| Issue: | Series 2009 general obligation bond anticipation notes
|
| Amount: | $581.245 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Citigroup Global Markets Inc., Goldman, Sachs & Co., and M.R. Beal & Co. (co-managers)
|
| Ratings: | Moody's: MIG1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | April 23
|
| Settlement date: | April 29
|
|
|
| Series 2009A
|
| Amount: | $353.085 million
|
| Maturity: | April 28, 2010
|
| Coupon: | 2%
|
| Yield: | 0.47%
|
|
|
| Series 2009B
|
| Amount: | $9.065 million
|
| Maturity: | June 1, 2011
|
| Coupon: | 2%
|
| Yield: | 1.15%
|
|
|
| Series 2009B
|
| Amount: | $219.095 million
|
| Maturity: | June 1, 2011
|
| Coupon: | 4%
|
| Yield: | 1.15%
|
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