Hawaii set to sell $655.47 million in G.O. and G.O. refunding bonds

By Sheri Kasprzak

New York, Oct. 8 - Hawaii is expected to price $655.47 million in series 2009 general obligation bonds and general obligation refunding bonds, according to a preliminary official statement.

The offering includes $32 million in series 2009DS tax credit taxable general obligation qualified school construction bonds, $594.55 million in series 2009DT G.O. refunding bonds, $2.15 million in series 2009DU G.O. refunding bonds, $8.76 million in series 2009DV G.O. refunding bonds and $18.01 million in series 2009DW G.O. refunding bonds.

Merrill Lynch & Co. Inc. is the senior manager for the negotiated sale. The co-managers for the DT, DU, DV and DW bonds include Citigroup Global Markets Inc., Piper Jaffray & Co. and Robert W. Baird & Co.

Proceeds will be used to refund the state's series 2002 through 2007 bonds. Proceeds from the series 2009DS bonds will be used to construct schools throughout the state.

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