District of Columbia to sell $711.16 million in revenue and revenue refunding bonds Wednesday

By Sheri Kasprzak

New York, March 8 - The District of Columbia is set to bring $711.16 million in series 2010 revenue and revenue refunding bonds (Aa2/AAA/AA) on Wednesday, according to a sales calendar.

The offering includes $696.005 million in series 2010A tax-exempt income secured revenue refunding bonds and $15.155 million in series 2010B federally taxable income secured revenue bonds.

The bonds will be sold through lead manager Goldman, Sachs & Co. The co-managers are Morgan Stanley & Co. Inc., M.R. Beal & Co., Siebert Brandford Shank & Co. LLC, Bank of America Merrill Lynch, Barclays Capital Inc., Cabrera Capital Markets Inc., Fidelity Capital Markets LLC, Jefferies & Co., Ramirez & Co. Inc., Rice Financial Products Co. and Wells Fargo Securities Inc.

The 2010A bonds are due 2017 to 2031 and the 2010B bonds are due 2017.

Proceeds will be used to refund existing debt and finance the termination of swap agreements related to the refunded bonds.

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