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District of Columbia offers $451.94 million income tax secured bonds
By Sheri Kasprzak
New York, Nov. 17 - The District of Columbia is expected to price $451.935 million of series 2011 income tax secured revenue refunding bonds, according to a pricing sheet.
The offering includes $95.66 million of series 2011B adjusted Sifma rate revenue refunding bonds, $9.275 million of series 2011C adjusted Sifma rate revenue refunding bonds, $103.39 million of series 2011D adjusted Sifma rate revenue refunding bonds and $243.61 million of series 2011E adjusted Sifma rate revenue refunding bonds.
The bonds (Aa1/AAA/AA+) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and Loop Capital Markets LLC as the lead managers.
The 2011B bonds are due in 2013 and 2015. The 2011C bonds are due in 2012. The 2011D bonds are due in 2013, and the 2011E bonds are due in 2015 and 2017.
Proceeds will be used to advance refund the city's series 2003A-B and 2005A G.O. bonds.
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