Mississippi readies $176.42 million sale of general obligation bonds

By Sheri Kasprzak

New York, Oct. 9 - The State of Mississippi plans to price $176.42 million of series 2012 general obligation bonds, according to a preliminary official statement.

The deal includes $39.74 million of series 2012G taxable G.O.s and $136.68 million of series 2012H tax-exempt G.O.s.

The bonds will be sold on a negotiated basis. Morgan Stanley & Co. LLC is the underwriter for the series 2012G bonds. The senior managers for the 2012H bonds are Bank of America Merrill Lynch and Citigroup Global Markets Inc. The co-managers for the 2012H bonds are Duncan-Williams Inc., Kipling Jones & Co. and Stephens Inc.

The 2012G bonds are due 2013 to 2019. The 2012H bonds are due 2019 to 2032.

Proceeds will be used to fund loans to corporations based in the state and to fund grants for local economic development projects.

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