Vermont coordinates $85.32 million sale of general obligation bonds

By Sheri Kasprzak

New York, Oct. 28 - The State of Vermont plans to price $85,315,000 of series 2013 general obligation bonds, according to a preliminary official statement. Pricing is scheduled for Nov. 6.

The offering includes $20,225,000 of series 2013A Vermont Citizens G.O. bonds, $46.41 million of series 2013B G.O. bonds and $18.68 million of series 2013C G.O. refunding bonds.

The 2013A bonds will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager and BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the co-managers.

The 2013B and 2013C bonds will be sold competitively with Public Resources Advisory Group as the financial adviser.

The 2013A bonds are due 2014 to 2033.

The 2013B bonds are due 2014 to 2033, and the 2013C bonds are due 2014 to 2017 and 2023 to 2024.

The bonds (Aaa/AA+/AAA) will be used for capital purposes for the state, as well as to refund the state's series 2004A and 2005A G.O. bonds.

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