Kansas DOT coordinates $212.89 million highway refunding bond offering

By Sheri Kasprzak

New York, Aug. 15 – The Kansas Department of Transportation is set to price $212,875,000 of series 2014B highway revenue refunding index bonds, according to a preliminary official statement. Pricing is expected on Thursday.

The bonds (Aa2/AAA/AA+) will be sold through Barclays.

The deal includes $37 million of series 2014B-1 bonds, $38,145,000 of series 2014B-2 bonds, $39.52 million of series 2014B-3 bonds, $49,945,000 of series 2014B-4 bonds and $48,265,000 of series 2014B-5 bonds. All the bonds bear interest at 67% of one-month Libor plus the applicable spread at pricing.

The 2014B-1 bonds are due Sept. 1, 2015 and the 2014B-2 bonds are due Sept. 1, 2016. The 2014B-3 bonds are due Sept. 1, 2017 and the 2014B-4 bonds are due Sept. 1, 2018. The 2014B-5 bonds are due Sept. 1, 2019.

Proceeds will be used to refund existing DOT revenue bonds.

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