Delaware plans $298.83 million offering of general obligation bonds

By Sheri Kasprzak

New York, Oct. 12 - The State of Delaware is set to price $298.825 million in series 2010 general obligation bonds during the week of Oct. 18, according to a preliminary official statement.

The offering includes $123.47 million in series 2010B G.O. bonds, $115.775 million in series 2010C Build America Bonds and $59.58 million in series 2010D qualified school construction bonds.

The bonds (Aaa//AAA) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as the joint bookrunners.

The co-managers are Bank of America Merrill Lynch, Edward D. Jones & Co. LP, Morgan Stanley & Co. Inc., Fidelity Capital Markets and Jefferies & Co.

The 2010B bonds are due 2011 to 2024, and the 2010C bonds are due 2019 to 2030. The 2010D bonds are due 2029.

Proceeds will be used to fund capital projects, including new school construction.

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