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Kentucky State Property and Buildings plans $385.16 million bond sale
By Sheri Kasprzak
New York, Jan. 21 – The Kentucky State Property and Buildings Commission is set to price $385,155,000 of series 2015 revenue bonds, according to a preliminary official statement.
The deal includes $128.45 million of series 2015A Project No. 108 revenue bonds and $256,705,000 of series 2015B Project No. 108 revenue refunding bonds.
The bonds (Aa3/A+/) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC as the lead managers. The co-managers are J.J.B. Hilliard, W.L. Lyons LLC, Raymond James/Morgan Keegan, PNC Capital Markets LLC, First Kentucky Securities Corp., Edward D. Jones & Co. LP, Fifth Third Securities and Sterne, Agee & Leach Inc.
The 2015A bonds are due 2015 to 2034 and the 2015B bonds are due 2015 to 2026.
Proceeds will be used to refund the commission’s series 2005 Kentucky Asset/Liability Commission project notes.
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