By Sheri Kasprzak
New York, Oct. 7 - Virginia priced $288 million in series 2009 general obligation bonds on Wednesday, according to a pricing sheet released by a sellside source.
The bonds were sold on a negotiated basis with Merrill Lynch & Co. Inc. as the winning bidder. The true interest cost came in at 3.17%.
The offering included $100 million in series 2009B bonds, $19.9 million in series 2009C bonds and $168.1 million in series 2009D bonds.
The 2009B bonds are due 2011 to 2034 with coupons from 3% to 5%. The 2009C bonds are due 2014 to 2024 with 3% to 4% coupons. The 2009D bonds are due 2016 to 2022 with a term bond due 2010. The coupons range from 2.5% to 5%.
Proceeds will be used to fund general expenditures.
| Issuer: | Virginia
|
| Issue: | Series 2009 general obligation bonds
|
| Amount: | $288 million
|
| Type: | Competitive
|
| Underwriter: | Merrill Lynch & Co. Inc.
|
| TIC: | 3.17%
|
| Pricing date: | Oct. 7
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 3% | 103.776
|
| 2012 | Serial | 4% | 107.765
|
| 2013 | Serial | 5% | 113.161
|
| 2014 | Serial | 4% | 110.766
|
| 2015 | Serial | 5% | 116.771
|
| 2016 | Serial | 5% | 117.879
|
| 2017 | Serial | 5% | 118.674
|
| 2018 | Serial | 5% | 119.087
|
| 2019 | Serial | 5% | 119.821
|
| 2020 | Serial | 5% | NRO
|
| 2021 | Serial | 5% | NRO
|
| 2022 | Serial | 5% | NRO
|
| 2023 | Serial | 5% | NRO
|
| 2024 | Serial | 5% | NRO
|
| 2025 | Serial | 5% | NRO
|
| 2026 | Serial | 5% | NRO
|
| 2027 | Serial | 5% | NRO
|
| 2028 | Serial | 5% | NRO
|
| 2029 | Serial | 5% | NRO
|
| 2030 | Serial | 5% | NRO
|
| 2031 | Serial | 5% | NRO
|
| 2032 | Serial | 5% | NRO
|
| 2033 | Serial | 5% | NRO
|
| 2034 | Serial | 5% | NRO
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 3% | 106.335
|
| 2015 | Serial | 3% | 106.156
|
| 2016 | Serial | 4% | 111.734
|
| 2017 | Serial | 4% | 111.731
|
| 2018 | Serial | 4% | 111.800
|
| 2019 | Serial | 4% | 111.836
|
| 2020 | Serial | 4% | 110.754
|
| 2021 | Serial | 4% | NRO
|
| 2022 | Serial | 4% | NRO
|
| 2023 | Serial | 4% | NRO
|
| 2024 | Serial | 4% | NRO
|
|
|
| Series 2009D
|
| Maturity | Type | Coupon | Price
|
| 2010 | Term | 2.5% | 101.298
|
| 2016 | Serial | 5% | 117.879
|
| 2017 | Serial | 5% | 118.674
|
| 2018 | Serial | 5% | 119.087
|
| 2019 | Serial | 5% | 119.821
|
| 2020 | Serial | 5% | NRO
|
| 2021 | Serial | 5% | NRO
|
| 2022 | Serial | 5% | NRO
|
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