Washington plans $1.49 billion bonds in four tranches, two sales

By Cristal Cody

Prospect News, Jan. 25 - The State of Washington plans to sell more than $1.49 billion in four tranches of municipal bonds with two sales set for January and February, according to a preliminary official statement.

The offering includes $346.075 million of series 2012D various purchase general obligation bonds; $699.075 million of series R-2012C various purchase G.O. refunding bonds; $188.595 million of series 2012E motor vehicle fuel tax G.O. bonds; and $260.14 million of series R-2012D motor vehicle fuel tax G.O. refunding bonds.

The series 2012D bonds have serial maturities from 2013 though 2037, and the series 2012E bonds are due from 2013 through 2042.

The series R-2012C bonds have serial maturities from 2015 through 2029, and the series R-2012D bonds have serial maturities from 2013 through 2039.

The series R-2012C and series R-2012D bonds will price through a competitive sale on Jan. 31, according to the statement.

The series 2012D and series 2012E bonds will price through a competitive sale on Feb. 28.

Montague DeRose and Associates, LLC and Seattle-Northwest Securities Corp. are the financial advisors.

Proceeds will be used to refund outstanding general obligation bonds.

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