Pennsylvania auctioned $950 million of general obligation bonds, which Bank of America Merrill Lynch won, and traders said the deal was very well received.

The bonds are rated Aa2 by Moody's Investors Service, AA by Standard & Poor's, and AA-plus by Fitch Ratings. Yields ranged from 0.17% with a 1% coupon in 2014 to 3.34% with a 4% coupon in 2033. The bonds are callable at par in 2023.

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