Honolulu preps $232.08 million sale of wastewater revenue bonds

By Sheri Kasprzak

New York, Oct. 6 - The City of Honolulu is expected to sell $232.08 million of series 2011 wastewater system revenue bonds, according to a preliminary official statement. Pricing is anticipated during the week of Oct. 10.

The offering includes $164.955 million of series 2011A bonds and $67.125 million of series 2011B bonds.

The 2011A bonds are due 2016 to 2031 with term bonds due in 2036 and 2041. The 2011B bonds are due 2016 to 2023.

The bonds (Aa2/AA) will be sold on a negotiated basis with Bank of America Merrill Lynch and Piper Jaffray & Co. as the senior managers.

Proceeds will be used to refund the city's series 2005A and 2006A-C wastewater system revenue bonds and to make improvements to the city's wastewater system.

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