Pennsylvania preps $1.2 billion offering of general obligation bonds

By Cristal Cody

Tupelo, Miss., May 21 – The Commonwealth of Pennsylvania plans to price $1,237,230,000 of general obligation bonds, according to a preliminary official statement.

The deal includes $460 million of second series of 2015 bonds due 2016 through 2035 and $777.23 million of first refunding series of 2015 bonds due 2016 through 2026.

The bonds will be offered via a competitive sale on May 27.

Public Financial Management, Inc. is the financial adviser.

Proceeds will be used to provide funding for construction, acquisition and rehabilitation of capital facilities projects, capital highway and bridge projects, environmental maintenance and protection, open space and farmland preservation and watershed protection and to refund outstanding bonds.

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