New Issue: Connecticut sells $244.1 million revenue bonds to yield 1.1%-4.375%

By Sheri Kasprzak

New York, June 16 - The state of Connecticut priced $244.1 million in series 2009 state revolving fund general revenue bonds, said a sellside source connected to the deal.

The bonds (Aaa/AAA/AAA) were sold through lead manager Ramirez & Co. Inc. The co-managers were M.R. Beal & Co., Goldman, Sachs & Co., Jackson Securities Inc., Barclays Capital Inc., Belle Haven Investments LP, Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Loop Capital Markets LLC, Merrill Lynch & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets Inc., Siebert Brandford Shank & Co. LLC, Wachovia Bank and William Blair & Co. Inc.

The sale included $199.7 million in series 2009A general revenue bonds and $44.4 million in series 2009B refunding general revenue bonds.

The 2009A bonds are due 2010 to 2027 with coupons from 2% to 4.375% and yields from 1.1% to 4.375%. The 2009B bonds are due 2010 to 2015 with coupons from 3% to 4.25% with yields from 1.1% to 2.66%.

Proceeds will be used to pay for water and wastewater projects as well as to refund the state's series 1999 bonds.

Issuer:	Connecticut
Issue:	Series 2009 state revolving fund general revenue bonds
Amount:	$244.1 million
Type:	Negotiated
Underwriters:	Ramirez & Co. Inc. (lead); M.R. Beal & Co., Goldman, Sachs & Co., Jackson Securities Inc., Barclays Capital Inc., Belle Haven Investments LP, Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Loop Capital Markets LLC, Merrill Lynch & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets Inc., Siebert Brandford Shank & Co. LLC, Wachovia Bank and William Blair & Co. Inc. (co-managers)
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Pricing date:	June 16
Series 2009A general revenue bonds
Amount:	$199.7 million
Maturities:	2010 to 2027
Coupons:	2% to 4.375%
Yields:	1.1% to 4.375%
Series 2009B refunding general revenue bonds
Amount:	$44.4 million
Maturities:	2010 to 2015
Coupons:	3% to 4.25%
Yields:	1.1% to 2.66%

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