Kansas Development Finance plans $1 billion offering of revenue bonds

By Sheri Kasprzak

New York, Aug. 3 – The Kansas Development Finance Authority is poised to price $1,005,435,000 of series 2015H taxable State of Kansas – KPERS revenue bonds, according to a preliminary official statement.

The bonds (Aa3/AA-/) will be sold on a negotiated basis with BofA Merrill Lynch and Wells Fargo Securities LLC as the senior managers. The co-managers are Citigroup Global Markets Inc., Hutchinson, Shockey, Erley & Co., Piper Jaffray & Co. and Stifel, Nicolaus & Co.

The bonds are due 2017 to 2030 with term bonds due in 2037 and 2045.

Proceeds will be used to finance capital projects within the state.

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