Washington prepares $590.55 million sale of G.O. bonds for July 18

By Sheri Kasprzak

New York, July 6 - The State of Washington is set to sell $590,545,000 of series 2013 general obligation bonds on July 18, said a preliminary official statement.

The deal includes $274,105,000 of series 2013A various purpose G.O. bonds, $197.4 million of series 2013B-1 and 2013B-2 motor vehicle fuel tax G.O. bonds, $40,585,000 of series 2013T taxable G.O. bonds and $78,455,000 of series R-2013T taxable G.O. refunding bonds.

The bonds (Aa1/AA+/AA+) will be sold through both competitive and negotiated sales. The 2013A, 2013B-1, 2013T and R-2013T bonds will be sold competitively. The 2013B-2 bonds will be sold on a negotiated basis.

Bank of America Merrill Lynch is the senior manager for the 2013B-2 bonds.

The 2013A bonds are due 2018 to 2037. The 2013B-1 and 2013B-2 bonds are due 2013 to 2042. The 2013T bonds are due 2013 to 2018. The R-2013T bonds are due 2013 to 2016.

Proceeds will be used to finance various capital projects, state and local water supply improvements, multimodal transportation projects, state programs for Columbia River Basin water supply development, outdoor recreation, habitat conservation, riparian and farmland preservation, state and local highway improvements and construction of new transportation projects as well as to refund existing G.O. debt.

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