King County, Wash., to sell $256.23 million sewer revenue, G.O. bonds

By Sheri Kasprzak

New York, March 26 - King County, Wash., plans to sell $256,225,000 of series 2012 sewer revenue and refunding bonds (Aa2/AA+/) and series 2012 limited tax sewer general obligation refunding bonds (Aa1/AAA/).

The bonds will be sold during the week of March 26 through senior manager J.P. Morgan Securities LLC. The co-managers are Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC.

The deal includes $132.55 million of series 2012 sewer revenue and refunding bonds and $123,675,000 of series 2012 sewer G.O. refunding bonds.

The 2012 sewer revenue bonds are due 2013 and 2023 to 2028. The 2012 sewer G.O. refunding bonds are due Jan. 1, 2052.

Proceeds will be used to finance capital improvements to the county's sewer system, as well as to refund existing debt.

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