Connecticut prepares $500 million three-tranche offering of G.O. bonds

By Cristal Cody

Tupelo, Miss., Aug. 7 - The State of Connecticut plans to price $500 million in a three-tranche offering of general obligation bonds (Aa3/AA/AA), according to a preliminary official statement.

The sale includes $100 million of series 2013A bonds due 2014 to 2023, $165 million of series 2013D bonds due 2014 to 2023 and $235 million of series 2013E bonds due 2014 to 2033.

M.R. Beal & Co. is the bookrunner. Co-managers include BofA Merrill Lynch, Morgan Stanley & Co. LLC, Ramirez & Co., Inc., William Blair & Co., Barclays, CastleOak Securities, LP, Citigroup Global Markets Inc., Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, J.P. Morgan Securities LLC, Rice Financial Products, Roosevelt & Cross, Inc., TD Securities (USA) LLC, Wells Fargo Securities LLC, Prager & Co., LLC, Robert Baird & Co., Williams Capital Group LP and US Bancorp Investments Inc.

Proceeds will be used for various state projects.

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