Georgia plans to sell $314.53 million general obligation bonds in May

By Sheri Kasprzak

New York, April 27 - The state of Georgia is set to price $314.53 million in series 2009 general obligation bonds, according to a preliminary official statement. The offering is expected to price in May.

The sale includes $9.5 million in series 2009C bonds and $305.03 million in series 2009D bonds.

Merrill Lynch & Co. Inc. is the senior manager. The co-managers are Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Morgan Keegan & Co. Inc., Jackson Securities Inc., Raymond James & Associates Inc., SunTrust Robinson Humphrey and Wachovia Bank.

The 2009C bonds are due 2010 to 2014 and the 2009D bonds are due 2010 to 2029.

The proceeds will be used to acquire and improve lands, buildings, highways, structures, equipment or facilities, as well as to repay existing debt.

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