Minnesota intends to price $903.85 million G.O. bonds Tuesday

By Sheri Kasprzak

New York, Aug. 7 – The State of Minnesota is scheduled to price $903,845,000 of series 2014 general obligation bonds on Tuesday, according to a preliminary official statement.

The deal includes $438,055,000 of series 2014A various purpose G.O. bonds, $288 million of series 2014B state trunk highway G.O. bonds, $26.15 million of series 2014C taxable state various purpose G.O. bonds, $28.25 million of series 2014D state various purpose refunding G.O. bonds and $123.39 million of series 2014E state trunk highway G.O. refunding bonds.

The bonds will be sold competitively with Public Resources Advisory Group as the financial adviser.

The 2014A bonds are due 2015 to 2034, and the 2014B bonds are due 2015 to 2034. The 2014C bonds are due 2015 to 2033, and the 2014D bonds are due 2015 to 2032. The 2014E bonds are due 2015 to 2026.

Proceeds will be used to finance capital projects, including educational, parks, pollution control, transportation, natural resources and agricultural facilities, and to fund improvements to the state’s trunk highway system, as well as to refund G.O. debt.

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