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Honolulu prepares $312.79 million offering of G.O. bonds
By Sheri Kasprzak
New York, July 7 - The City and County of Honolulu is set to price $312.79 million of series 2011 general obligation bonds, according to a preliminary official statement.
The offering includes $137.645 million of series 2011A bonds and $175.145 million of series 2011B bonds.
The bonds (Aa1//AA+) will be sold on a negotiated basis with Bank of America Merrill Lynch and Piper Jaffray & Co. as the senior managers.
The 2011A bonds are due 2016 to 2036, and the 2011B bonds are due 2016 to 2027.
Proceeds will be used to fund capital improvement projects, as well as to refund the city's series 1993A-C, 1994A, 2001A, 2003A, 2004A, 2005A, 2005F and 2007A bonds.
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