Mississippi to sell $622.82 million in general obligation bonds, BABs

By Sheri Kasprzak

New York, Oct. 7 - The state of Mississippi plans to price $622.82 million in general obligation and G.O. refunding bonds, according to a preliminary official statement.

The offering includes $340.375 million in series 2009D taxable G.O. bonds, $120 million in series 2009E taxable G.O. bonds, $64.145 million in series 2009F tax-exempt G.O. bonds and $98.3 million in series 2009G G.O. Build America Bonds.

The senior managers are Morgan Keegan & Co. Inc., Morgan Stanley & Co. Inc. and Merrill Lynch & Co. Inc. The co-managers are Duncan-Williams Inc., Loop Capital Markets LLC, Rice Financial Products Co. and Siebert Brandford Shank & Co. LLC.

The 2009D bonds are due 2010 to 2021 with a term bond due 2029 and the 2009E bonds are due 2032. The 2009F bonds are due 2020 to 2023 and the 2009G bonds are due 2034.

Proceeds will be used to refinance the state's series 2008 bonds, to fund highway improvements throughout the state, to fund grant programs for local governments to expand businesses, as well as to refund existing variable-rate bonds.

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