By Sheri Kasprzak
New York, Sept. 13 - The State of Illinois priced $50 million of series of September 2012 general obligation bonds, according to a pricing sheet.
The bonds (A2/A/) were sold competitively with Raymond James/Morgan Keegan winning the bid with a 2.491591% true interest cost.
The bonds are due 2013 to 2022 with 3% to 4% coupons.
Proceeds will be used to finance the state's information technology capital projects.
| Issuer: | State of Illinois
|
| Issue: | Series September of 2012 general obligation bonds
|
| Amount: | $50 million
|
| Type: | Competitive
|
| Underwriter: | Raymond James/Morgan Keegan (winner)
|
| True interest cost: | 2.491591%
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5 million | 2013 | Serial | 3% | 101.899
|
| $5 million | 2014 | Serial | 3% | 103.721
|
| $5 million | 2015 | Serial | 4% | 107.895
|
| $5 million | 2016 | Serial | 4% | 109.513
|
| $5 million | 2017 | Serial | 4% | 110.589
|
| $5 million | 2018 | Serial | 4% | 110.252
|
| $5 million | 2019 | Serial | 4% | 109.826
|
| $5 million | 2020 | Serial | 4% | 108.927
|
| $5 million | 2021 | Serial | 4% | 107.621
|
| $5 million | 2022 | Serial | 4% | 106.847
|
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