Connecticut to sell $550 million special tax obligation bonds, BABs

By Sheri Kasprzak

New York, Oct. 20 - Connecticut is expected to price $550 million in series 2009 transportation infrastructure purposes special tax obligation bonds, according to a preliminary official statement.

The sale includes $250 million in series 2009A bonds, $250 million in series 2009B Build America Bonds and $50 million in series 2009C refunding bonds.

Siebert Brandford Shank & Co. LLC is the senior manager. The co-managers are Citigroup Global Markets Inc.; Goldman, Sachs & Co.; Merrill Lynch & Co.; Barclays Capital Inc.; Estrada Hinojosa & Co.; Jackson Securities Inc.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Morgan Stanley & Co.; M.R. Beal & Co.; Ramirez & Co. Inc.; Raymond James & Associates Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; and Wachovia Bank N.A.

The 2009A bonds are due 2010 to 2019 and the 2009B bonds are due 2020 to 2029. The 2009C bonds are due 2010 to 2014.

Proceeds will be used to fund transportation infrastructure projects, as well as to refund existing debt.

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