Minnesota prepares $1.09 billion offering of general obligation bonds

By Sheri Kasprzak

New York, July 24 – The State of Minnesota is poised to price $1,094,695,000 of series 2015 general obligation bonds on Aug. 5, said a preliminary official statement.

The deal includes $376.11 million of series 2015A G.O. state various purpose bonds, $310 million of series 2015B G.O. state trunk highway bonds, $7.2 million of series 2015C taxable state various purpose bonds, $386,495,000 of series 2015D state various purpose refunding bonds and $14.89 million of series 2015E state trunk highway refunding bonds.

The 2015A bonds and the 2015B bonds are due 2016 to 2035. The 2015C bonds are due 2016 to 2025. The 2015D bonds and the 2015E bonds are due 2016 to 2027.

The bonds will be sold competitively with Public Resources Advisory Group as the financial adviser.

Proceeds will be used to finance capital projects and refund outstanding debt.

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