King County, Wash., plans $403.04 million sale of sewer bonds

By Sheri Kasprzak

New York, Aug. 15 - King County in Washington State is set to price $403.04 million of series 2011B sewer revenue and refunding bonds, according to a preliminary official statement.

The bonds (Aa2/AA+/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC.

The bonds are due 2012 to 2033 with term bonds due in 2041 and 2051.

Proceeds will be used to fund improvements to the county's sewer system, as well as to refund the county's series 2001 sewer revenue and refunding bonds, its series 2002A sewer revenue bonds and its series 2002B sewer revenue and refunding bonds.

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