Washington state readies $944.28 million general obligation bond sale

By Sheri Kasprzak

New York, Sept. 28 – The State of Washington is scheduled to price $944.28 million of series 2016 general obligation bonds on Wednesday, according to a preliminary official statement.

The deal includes $497.8 million of series 2016A green bonds, $191,995,000 of series 2016B motor vehicle fuel tax bonds, $60.71 million of series 2016T taxable bonds and $193,775,000 of series R-2016A various purpose refunding bonds.

The bonds (Aa1/AA+/AA+) will be sold on a competitive basis with Montague De Rose & Associates, Piper Jaffray & Co. and Seattle-Northwest Co. as the financial advisers.

The 2016A bonds are due 2016 to 2040 and the 2016B bonds are due 2016 to 2040. The 2016T bonds are due 2016 to 2021 and the series R-2016A bonds are due 2016 to 2024.

Proceeds will be used to finance state capital projects and refund existing debt.

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