Washington to sell $500 million motor vehicle tax G.O. BABs Wednesday

By Sheri Kasprzak

New York, Oct. 9 - The state of Washington is set to bring to market $500 million in series 2010D motor vehicle tax general obligation Build America Bonds on Wednesday, according to a preliminary official statement.

The bonds (Aa1/AA+/AA) will be sold through senior managers J.P. Morgan Securities Inc. and Goldman, Sachs & Co. The co-managers are Merrill Lynch & Co. Inc., Barclays Capital Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc.

The bonds are due 2034.

Proceeds will be used to fund state and local highway improvements.

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