Tennessee coordinates $210 million general obligation bond offering

By Sheri Kasprzak

New York, July 14 – The State of Tennessee is set to price $210 million of series 2014 general obligation bonds for the week of July 14, according to a preliminary official statement.

The deal includes $130 million of series 2014A G.O. bonds and $80 million of series 2014B G.O. refunding bonds.

The bonds (Aaa/AA /AAA) will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager. The co-managers are BofA Merrill Lynch, Piper Jaffray & Co. and Wells Fargo Securities LLC.

The 2014A bonds are due 2015 to 2034 and the 2014B bonds are due 2025 to 2029.

Proceeds will be used to finance capital projects for the state, retire at maturity its commercial paper notes and refund the state’s series 2008A and 2009C G.O. bonds.

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