Connecticut preps $569.99 million sale of general obligation bonds

By Sheri Kasprzak

New York, Sept. 12 - The State of Connecticut is set to sell $569.99 million of series 2012 general obligation bonds, according to a preliminary official statement.

The offering includes $175 million of series 2012D Sifma index bonds, $325 million of series 2012D G.O. bonds and $69.99 million of series 2012E G.O. refunding bonds.

The bonds (Aa3/AA/AA) will be sold on a negotiated basis with Siebert Brandford Shank & Co. LLC as the senior manager. The co-managers are Citigroup Global Markets Inc., Janney Montgomery Scott LLC, Loop Capital Markets LLC, William Blair & Co., Bank of America Merrill Lynch, Barclays, Blaylock Robert Van LLC, CastleOak Securities LLC, Goldman, Sachs & Co., Grigsby & Associates, J.P. Morgan Securities LLC, Lebenthal & Co. LLC, Morgan Stanley & Co. LLC, M.R. Beal & Co. Inc., Piper Jaffray & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., US Bancorp Inc., Wells Fargo Securities LLC and The Williams Capital Group LP.

The 2012D bonds are due 2013 to 2019, and the 2012E bonds are due 2020 to 2032. The 2012F bonds are due 2013 to 2015.

Proceeds will be used to finance state expenditures and refund existing state G.O. debt.

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