Vermont bond bank eyes $59.4 million taxable, refunding bonds

By Sheri Kasprzak

New York, Nov. 5 – The Vermont Municipal Bond Bank is expected to price $59.4 million of series 2015 bonds, according to a preliminary official statement.

The deal includes $10.54 million of series 2015-4 taxable bonds and $48.86 million of series 2015-5 refunding bonds.

The bonds (Aa2/AA+/) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and Citigroup Global Markets Inc.

The 2015-4 bonds are due 2018 to 2045. The 2015-5 bonds are due 2016 to 2035 with a term bond due in 2039.

Proceeds will be used to make money available for the bond bank’s loan program, as well as to refund the bond bank’s series 2008-1 and 2009-1 bonds.

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