City and County of Honolulu to price $459.79 million G.O. bonds

By Sheri Kasprzak

New York, Nov. 19 - The City and County of Honolulu is expected to sell $459.785 million of series 2010 general obligation bonds, according to a preliminary official statement.

The offering includes $151.685 million of series 2010A Build America Bonds, $187.83 million of series 2010B tax-exempt bonds and $120.27 million of series 2010C tax-exempt bonds.

The bonds (Aa1//AA+) will be sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager and Piper Jaffray & Co. as the co-manager.

The 2010A bonds are due 2015 to 2035. The 2010B bonds are due 2015 to 2035. The 2010C bonds are due 2015 to 2027.

Proceeds will be used to refund $125 million of the city and county's commercial paper and advanced refund its series 2003A, 2004A, 2005E and 2005F bonds.

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