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Tennessee to sell $367.05 million G.O., G.O. refunding bonds Wednesday
By Sheri Kasprzak
New York, April 17 - The state of Tennessee plans to sell its previously announced $367.045 million in series 2009 general obligation and general obligation refunding bonds (Aa1/AA+/AA+) on Wednesday, according to a calendar of upcoming sales.
The deal includes $291.5 million in series 2009A G.O.s and $75.545 million in series 2009B G.O. refunding bonds.
Morgan Stanley & Co. Inc. is the lead manager for the negotiated deal. The co-managers are 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.
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