Washington plans $1 billion general obligation bonds in four tranches

By Sheri Kasprzak

New York, Jan. 16 – The State of Washington is set to price $1,001,305,000 of series 2015 general obligation bonds on Wednesday, according to a preliminary official statement.

The offering includes $282,275,000 of series 2015B various purpose G.O. bonds, $200.63 million of series 2015C motor vehicle tax G.O. bonds, $58,205,000 of series 2015T-2 taxable bonds and $460,195,000 of series R-2015E various purpose G.O. refunding bonds.

The bonds (Aa1/AA+/AA+) will be sold competitively with Montague DeRose & Associates LLC and Piper Jaffray & Co. as the financial advisers.

The 2015B bonds are due 2022 to 2040, and the 2015C bonds are due 2016 to 2040. The 2015T-2 bonds are due 2016 to 2022. The R-2015E bonds are due 2015 and 2018 to 2033.

Proceeds will be used to finance state capital projects and refund existing G.O. debt.

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