Hawaii coordinates $170.18 million offering of airport revenue COPs

By Sheri Kasprzak

New York, Dec. 2 - The Hawaii Department of Transportation is set to price $170,175,000 of series 2013 airport division lease revenue certificates of participation, according to a preliminary official statement.

The certificates (A3/A-/A-) will be sold on a negotiated basis with Morgan Stanley & Co. LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC as the underwriters.

The maturities have not been set.

Proceeds will be used to finance capital improvements at the state's 15 airports.

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