District of Columbia coordinates $523.43 million offering of G.O. debt

By Sheri Kasprzak

New York, Oct. 1 – The District of Columbia is expected to price $523.43 million of series 2014 general obligation bonds, according to a preliminary official statement.

The deal includes $386,405,000 of series 2014C G.O.s and $137,025,000 of series 2014D G.O. refunding bonds.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Loop Capital Markets LLC as the lead manager. The co-managers are Jefferies & Co. Inc., Ramirez & Co. Inc., Academy Securities, Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Mesirow Financial Inc., Raymond James/Morgan Keegan and TD Securities (USA) Inc.

The 2014C bonds are due 2017 to 2034 with a term bond due in 2038. The 2014D bonds are due 2015 to 2033.

Proceeds will be used to finance capital projects under the city’s capital improvement plan, as well as to refund the city’s series 2008A and 2008D multimodal variable-rate G.O. bonds.

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