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Mississippi arranges $701.62 million sale of general obligation bonds
By Sheri Kasprzak
New York, Jan. 26 – The State of Mississippi is set to price $701,615,000 of series 2015 general obligation bonds, according to a preliminary official statement.
The offering includes $157.23 million of series 2015A tax-exempt G.O. bonds, $128.95 million of series 2015B taxable bonds, $247 million of series 2015C tax-exempt G.O. refunding bonds and $168,435,000 of series 2015D taxable G.O. refunding bonds.
The bonds (Aa2/AA/AA+) will be sold on a negotiated basis.
The 2015A bonds will be offered through Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC with Citigroup Global Markets Inc. as the co-manager.
The 2015B bonds will be sold through senior managers BofA Merrill Lynch and Jefferies & Co. with Duncan-Williams Inc. as the co-manager.
The 2015C bonds will be sold through J.P. Morgan Securities LLC and Morgan Stanley with Raymond James and Duncan-Williams as the co-managers.
The 2015D bonds will be offered through RBC Capital Markets LLC and Piper Jaffray & Co. with Citigroup as the co-manager.
The 2015A bonds are due 2026 to 2035. The 2015B bonds are due 2015 to 2026. The 2015C bonds are due 2018 to 2028. The 2015D bonds are due 2015 to 2032.
Proceeds will be used to finance capital projects, including park and open space facilities; acquisitions and improvements to the Mississippi Civil Rights Museum and the Museum of Mississippi History; renovations to Jackson State University, Mississippi State University, Mississippi Valley State University, University of Mississippi Medical Center, University of Southern Mississippi and Holmes Community College; as well as to refund the state’s series 2006D, 2007B, 2008A-B, 2009E and 2011A G.O. bonds.
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