Connecticut coordinates $575 million sale of general obligation bonds

By Sheri Kasprzak

New York, Sept. 24 - The State of Connecticut is ready to price $575 million of series 2013A GAAP conversion general obligation bonds, according to a preliminary official statement.

The bonds will be sold through Ramirez & Co. Inc.

The co-managers are Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Barclays, BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley & Co. LLC, M.R. Beal & Co., Piper Jaffray & Co., Raymond James/Morgan Keegan, Rice Financial Products Co., Williams Capital Group LP, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.

The bonds are due 2015 to 2027.

Proceeds will be used to finance a GAAP cash deficit for the state.

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