Honolulu to price $276.99 million revenue bonds, BABs Sept. 14 week

By Sheri Kasprzak

New York, Sept. 1 - The City and County of Honolulu is expected to bring to market $276.985 million in wastewater system revenue bonds, according to preliminary official statements. Pricing is expected during the week of Sept. 14.

The deal includes $148.855 million in series 2009A-C first bond resolution bonds and $128.13 million in series 2009A second bond resolution bonds.

The first bond resolution bonds include $67.55 million in series 2009A senior bonds, $51.875 million in series 2009B Build America Bonds and $29.43 million in series 2009C recovery zone economic development bonds. The second bond resolution bonds include $128.13 million in series 2009A wastewater system revenue bonds.

The first bond resolution bonds (Aa3/AA-/AA-) will be sold on a negotiated basis with Merrill Lynch & Co. Inc. and Piper Jaffray & Co. as the senior managers. The 2009A bonds are due 2010 to 2028 and the 2009B bonds are due 2029 and 2035. The 2009C bonds are due 2039.

The second resolution bonds (A1/A+/A+) will also be sold through Merrill and Piper. The bonds are due 2010 to 2023.

Proceeds will be used to fund improvements to the wastewater system throughout the city and county.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.