Pennsylvania coordinates $990.55 million general obligation bond deal

By Sheri Kasprzak

New York, May 27 – The Commonwealth of Pennsylvania is scheduled to price $990.55 million of first series 2016 general obligation bonds on Wednesday, according to a preliminary official statement.

The deal includes $355 million of G.O.s and $635.55 million of refunding bonds.

The bonds (Aa3/AA-/AA-) will be sold competitively with Public Financial Management Inc. as the financial adviser.

The G.O.s are due 2017 to 2036 and the refunding bonds are due 2016 to 2027.

Proceeds will be used to finance transportation projects and refund existing G.O.s.

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