Connecticut plans to sell $700 million transportation bonds Tuesday

By Sheri Kasprzak

New York, Oct. 22 - The State of Connecticut plans to bring to market $700 million in series 2010 transportation infrastructure special tax obligation bonds on Tuesday, according to a sales calendar.

The offering includes $200 million in series 2010A bonds, $400 million in series 2010B Build America Bonds and $100 million in series 2010C refunding bonds.

Citigroup Global Markets Inc. is the senior manager with Goldman Sachs & Co.; Siebert Brandford Shank & Co. LLC, Bank of America Merrill Lynch and Jackson Securities as the co-senior managers. The co-managers are Barclays Capital Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. Inc., M.R. Beal & Co. Inc., Prager, Sealy & Co. LLC, Ramirez & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets Corp., Sterne, Agee & Leach Inc. and Wells Fargo Bank, NA.

The 2010A bonds are due 2011 to 2018, and the 2010B bonds are due 2019 to 2030. The 2010C bonds are due 2012 to 2021.

Proceeds will be used to refund the state's series 2001A, 2002A and 2002B bonds and to finance capital improvements to the state's transportation infrastructure.

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