Hawaii to sell $634.74 million G.O.s and G.O. refunding bonds Dec. 1

By Sheri Kasprzak

New York, Nov. 21 - The state of Hawaii plans to price its previously announced $634.735 million in series 2008 general obligation and G.O. refunding bonds on Dec. 1, a source at the issuer confirmed with Prospect News Friday.

The bonds (Aa2/AA/AA) had originally been slated to price in late September but were put on hold due to shaky market conditions.

The sale includes $300 million in series 2008DN G.O. bonds, $308.735 million in series 2008DO G.O. refunding bonds and $26 million series 2008DP G.O. bonds.

The 2008DN bonds are due 2012 to 2028. The 2008DO bonds are due 2011 to 2018, and the 2008DP bonds are due 2011 to 2016.

Proceeds will be used to reimburse the state for public improvement expenses and the costs of acquiring, constructing, extending or improving public buildings and facilities. The rest will be used for refunding a number of the state's obligations.

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