Featured Municipal Bond Issue, Week of 11/06/2017: Commonwealth of Pennsylvania – General Obligation Bonds – $974 Million
This week’s featured bond comes from the Commonwealth of Pennsylvania. Pennsylvania is issuing general obligation bonds in the amount of $974 million the week of November 06, 2017. This new bond issue is being issued as a single series, the First Refunding Series of 2017. The proceeds of the bonds are being used to refund previously issued general obligation bonds, issued in 2006, 2009, 2010, 2011, 2012, 2013, and 2014. The full Plan of Refunding is below:
Security for the bonds is a general obligation of the Commonwealth, and the full faith and credit of the Commonwealth of Pennsylvania is pledged. Further details on the purposes, tax-status, and security, as well as other matters pertaining to these general obligation bonds can be found in the preliminary official statement, available on MSRB’s EMMA service.
Provided at left (click to expand) is a quick snapshot of financial characteristics of the Commonwealth of Pennsylvania as of 6/30/2016, compared with the medians for other U.S. States for 2015-2016, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database.
These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.
by Jeffrey L Garceau