Tennessee scheduled to price $367.05 million in bonds week of April 20

By Sheri Kasprzak

New York, April 16 - The state of Tennessee is set to sell $367.045 million in series 2009 general obligation and general obligation refunding bonds (Aa1/AA+/AA+) the week of April 20, according to a preliminary official statement.

The deal includes $291.5 million in series 2009A general obligation bonds and $75.545 million in series 2009B general obligation refunding bonds.

Morgan Stanley & Co. Inc. is the lead manager for the sale. The co-managers include Loop Capital Markets LLC; Duncan-Williams Inc.; Morgan Keegan & Co. Inc.; J.P. Morgan Securities Inc.; Wiley Bros. Aintree Capital LLC; Edward D. Jones & Co.; J.J.B. Hilliard, W.L. Lyons LLC; and Mesirow Financial.

The 2009A bonds are due 2010 to 2029 and the 2009B bonds are due 2010 to 2019.

The proceeds will be used to repay the state's commercial paper notes, which were used to fund capital improvement projects.

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