Tennessee coordinates $364.17 million G.O. bond offering

By Sheri Kasprzak

New York, July 20 – The State of Tennessee is set to price $364.17 million of series 2016 general obligation bonds, according to a preliminary official statement.

The deal includes $174.53 million of series 2016A bonds, $124,105,000 of series 2016B G.O. refunding bonds and $65,535,000 of series 2016C taxable G.O. refunding bonds.

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

The 2016A bonds are due 2017 to 2036, and the 2016B bonds are due 2017 to 2031. The 2016C bonds are due 2017 to 2031.

Proceeds will be used to finance statewide capital projects, retire certain commercial paper notes and refund the state’s series 2008B, 2009D, 2010A and 2011A bonds.

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