Pennsylvania to price $650 million in three tranches of G.O. bonds

By Cristal Cody

Tupelo, Miss., Dec. 13 - The Commonwealth of Pennsylvania intends to sell $650 million in three tranches of general obligation bonds (Aa1//AA+), according to a preliminary official statement.

The sale includes $171.895 million of third series 2010A bonds, $466.605 million of third series 2010B Build America Bonds and $11.5 million of third series 2010C bonds.

The bonds will price through a competitive sale on Wednesday, according to the statement.

Public Financial Management Inc. is the financial advisor.

The series 2010A bonds have serial maturities from 2012 through 2018. The series 2010B bonds have serial maturities from 2019 through 2030, and the series 2010C bonds have serial maturities from 2012 through 2030.

Proceeds will be used for capital projects, to provide grants and loans for water supply and sewage treatment improvements and for environmental initiatives.

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