Hawaii coordinates $139.38 million offering of highway revenue bonds

By Sheri Kasprzak

New York, July 23 – The State of Hawaii is set to price $139.38 million of series 2014 highway revenue bonds, according to a preliminary official statement.

The deal includes $106.07 million of series 2014A bonds and $33.31 million of series 2014B bonds.

The bonds (Aa2/AA+/AA) will be sold on a negotiated basis with Baird & Co. and Wells Fargo Securities LLC as the senior managers.

The 2014A bonds are due 2015 to 2034. The 2014B bonds are due 2017 to 2026.

Proceeds will be used to finance capital improvements to state highways, as well as to refund existing highway revenue bonds.

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