Honolulu organizes $878.81 million sale of general obligation bonds

By Sheri Kasprzak

New York, March 11 – The City of Honolulu is set to price $878,805,000 of series 2015 general obligation bonds, according to a preliminary official statement.

The offering includes $375,675,000 of series 2015A tax-exempt bonds, $212.49 million of series 2015B tax-exempt bonds, $240.6 million of series 2015C tax-exempt bonds, $27.98 million of series 2015D tax-exempt bonds and $22.06 million of series 2015E taxable bonds.

The bonds will be sold through BofA Merrill Lynch and Piper Jaffray & Co.

The 2015A bonds are due 2015 to 2039, and the 2015B bonds are due 2018 to 2031. The 2015C bonds are due 2019 to 2033, and the 2015D bonds are due in 2016. The 2015E bonds are due 2015 to 2039.

Proceeds will be used to finance city capital improvements and to refund the city’s G.O. commercial paper notes and the city’s series 2005B-E, 2007A, 2009A and 2011A G.O. bonds.

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