Tobacco Settlement Financing, R.I., arranges $618.12 million bond deal

By Sheri Kasprzak

New York, March 3 – The Tobacco Settlement Financing Corp. of Rhode Island is set to price $618.12 million of series 2015 tobacco settlement asset-backed bonds, said a preliminary official statement.

The deal includes $330.69 million of series 2015A bonds and $287.43 million of series 2015B bonds.

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc. and BofA Merrill Lynch as the senior managers. The co-managers are Janney Montgomery Scott LLC, Oppenheimer & Co. and Raymond James/Morgan Keegan.

The 2015A bonds are due 2015 to 2030 with term bonds due in 2035 and 2040. The 2015B bonds are due in 2040, 2045 and 2050.

Proceeds will be used to refund all of the corporation’s series 2002A bonds.

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