Honolulu organizes $890.36 million offering of G.O. bonds

By Sheri Kasprzak

New York, Oct. 15 - The City and County of Honolulu plans to sell $890,355,000 of series 2012 general obligation bonds, according to a preliminary official statement.

The deal includes $249.96 million of series 2012A tax-exempt bonds, $276,135,000 of series 2012B tax-exempt bonds, $27,735,000 of series 2012C tax-exempt bonds, $18.09 million of series 2012D taxable bonds, $75.06 million of series 2012E taxable bonds, $60,785,000 of series 2012F taxable bonds and $182.59 million of series 2012G taxable bonds.

The bonds will be sold through Bank of America Merrill Lynch and Piper Jaffray & Co.

The 2012A bonds are due 2017 to 2037, and the 2012B bonds are due 2016 to 2029. The 2012C bonds are due 2013 to 2037. The 2012D bonds are due 2017 to 2028. The 2012E bonds are due 2015 to 2017, and the 2012F bonds are due 2016 to 2021. The 2012G bonds are due 2016 to 2022.

Proceeds will be used to finance capital improvements for the city and county, as well as to refund existing G.O. bonds.

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