Published on 4/11/2013 in the Prospect News Municipals Daily.
New Issue: Rhode Island prices $105.88 million lease participation certificates
By Sheri Kasprzak
New York, April 11 - The State of Rhode Island priced $105.88 million of series 2013 lease participation certificates, said a pricing sheet.
The bonds (Aa3/AA-/AA-) were sold through Raymond James/Morgan Keegan and Janney Montgomery Scott LLC.
The deal included $36,315,000 of series 2013A Kent County Courthouse project lease participation refunding certificates, $36.58 million of series 2013B training school project lease participation refunding certificates, $17.52 million of series 2013C energy conservation project lease participation refunding bonds and $15,465,000 of series 2013D traffic tribunal project lease participation refunding bonds.
The 2013A bonds are due 2013 to 2023 with 2% to 5% coupons.
The 2013B bonds are due 2013 to 2024 with 2% to 5% coupons.
The 2013C bonds are due 2014 to 2023 with coupons from 2% to 5%.
The 2013D bonds are due 2013 to 2024 with coupons from 2% to 5%.
Proceeds will be used to defease outstanding debt.
| Issuer: | State of Rhode Island
|
| Issue: | Series 2013 lease participation certificates
|
| Amount: | $105.88 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and Janney Montgomery Scott LLC (lead), BofA Merrill Lynch; Fidelity Capital Markets LLC; Morgan Stanley & Co. LLC; Oppenheimer & Co. Inc.; Ramirez & Co., Inc. and TD Securities (USA) LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's AA-
|
| Fitch: AA-
|
| Pricing date: | April 11
|
| Settlement date: | May 2
|
|
|
| $36,315,000 2013A Kent County Courthouse project lease participation refunding certificates
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.13 million | 2013 | Serial | 2% | NRO
|
| $1,305,000 | 2014 | Serial | 4% | 104.924
|
| $1.36 million | 2015 | Serial | 4% | 107.784
|
| $3,205,000 | 2016 | Serial | 5% | 113.499
|
| $3.37 million | 2017 | Serial | 5% | 116.24
|
| $3,525,000 | 2018 | Serial | 4% | 113.118
|
| $3,685,000 | 2019 | Serial | 5% | 119.836
|
| $3,875,000 | 2020 | Serial | 5% | 120.574
|
| $4,075,000 | 2021 | Serial | 5% | 121.312
|
| $4,285,000 | 2022 | Serial | 5% | 121.789
|
| $4.5 million | 2023 | Serial | 5% | 122.076
|
|
|
| $36.58 million 2013B training school project lease participation refunding certificates
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.75 million | 2013 | Serial | 2% | NRO
|
| $1,565,000 | 2014 | Serial | 4% | 104.924
|
| $1,625,000 | 2015 | Serial | 4% | 107.784
|
| $2.82 million | 2016 | Serial | 4% | 110.149
|
| $2.94 million | 2017 | Serial | 4% | 111.955
|
| $3.06 million | 2018 | Serial | 4% | 113.118
|
| $3.2 million | 2019 | Serial | 5% | 119.836
|
| $3.36 million | 2020 | Serial | 5% | 120.574
|
| $3,535,000 | 2021 | Serial | 5% | 121.312
|
| $3,715,000 | 2022 | Serial | 5% | 121.789
|
| $3,905,000 | 2023 | Serial | 5% | 122.076
|
| $4,105,000 | 2024 | Serial | 5% | 120.654
|
|
|
| $17.52 million 2013C energy conservation project lease participation refunding certificates
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.53 million | 2014 | Serial | 2% | NRO
|
| $1,495,000 | 2015 | Serial | 4% | 106.282
|
| $1.55 million | 2016 | Serial | 4% | 108.834
|
| $1,615,000 | 2017 | Serial | 4% | 110.835
|
| $1.68 million | 2018 | Serial | 4% | 112.202
|
| $1,745,000 | 2019 | Serial | 5% | 118.552
|
| $1,835,000 | 2020 | Serial | 5% | 119.636
|
| $1,925,000 | 2021 | Serial | 5% | 120.555
|
| $2.02 million | 2022 | Serial | 5% | 121.197
|
| $2,125,000 | 2023 | Serial | 5% | 121.633
|
|
|
| $15,465,000 2013D traffic tribunal project lease participation refunding certificates
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,195,000 | 2013 | Serial | 2% | NRO
|
| $805,000 | 2014 | Serial | 2% | 102.11
|
| $820,000 | 2015 | Serial | 2% | 103.008
|
| $1.21 million | 2016 | Serial | 3% | 106.799
|
| $1,255,000 | 2017 | Serial | 4% | 111.955
|
| $1.3 million | 2018 | Serial | 4% | 113.118
|
| $1.35 million | 2019 | Serial | 3% | 107.74
|
| $1.39 million | 2020 | Serial | 3% | 106.857
|
| $325,000 | 2021 | Serial | 4% | 113.673
|
| $1,115,000 | 2021 | Serial | 5% | 121.312
|
| $225,000 | 2022 | Serial | 4% | 113.408
|
| $1,275,000 | 2022 | Serial | 5% | 121.789
|
| $1,565,000 | 2023 | Serial | 4% | 112.991
|
| $1,635,000 | 2024 | Serial | 5% | 120.654
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
