Delaware intends to sell $124.03 million general obligation bonds

By Cristal Cody

Tupelo, Miss., April 26 - The state of Delaware intends to price $124.025 million in general obligation bonds, according to a preliminary official statement.

The series 2010A bonds (Aaa/AAA/AAA) have a term maturity of Jan. 1, 2011 and serial maturities from July 1, 2011 through July 1, 2020.

Morgan Stanley & Co. Inc. is the senior manager of the negotiated sale. Co-managers are J.P. Morgan Securities Inc. and Stone & Youngberg.

Proceeds will be used to purchase U.S. Treasury obligations and state and local government options to use the principal and interest to redeem G.O. bonds on or prior to the call date or maturity, beginning July 1, 2010 with the 2002A bonds.

The state also plans to refund at maturity or prior to the call date through 2017 the series 2002A, 2004A, 2005A, 2005B, 2005D, 2007A, 2009A and 2009B bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.