By Sheri Kasprzak
New York, Dec. 2 – The Kansas Department of Transportation priced $400 million of series 2015B highway revenue bonds, said a pricing sheet.
The bonds (Aa2/AAA/AA+) were sold through senior manager Morgan Stanley & Co. LLC.
The bonds are due 2025 to 2035 with 5% coupons and 2.02% to 2.75% yields.
Proceeds will be used to finance highway projects within the state.
| Issuer: | Kansas Department of Transportation
|
| Issue: | Series 2015B highway revenue bonds
|
| Amount: | $400 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Barclays, BofA Merrill Lynch and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AAA
|
| Fitch: AA+
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 10
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2025 | Serial | 5% | 126.188 | 2.02%
|
| 2026 | Serial | 5% | 124.688 | 2.17%
|
| 2027 | Serial | 5% | 123.699 | 2.27%
|
| 2028 | Serial | 5% | 123.012 | 2.34%
|
| 2029 | Serial | 5% | 122.136 | 2.43%
|
| 2030 | Serial | 5% | 121.364 | 2.51%
|
| 2031 | Serial | 5% | 120.788 | 2.57%
|
| 2032 | Serial | 5% | 120.502 | 2.60%
|
| 2033 | Serial | 5% | 120.026 | 2.65%
|
| 2034 | Serial | 5% | 119.552 | 2.70%
|
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