Reuters logo
Connecticut to sell $500 mln of bonds - market source
August 6, 2013 / 9:18 PM / 4 years ago

Connecticut to sell $500 mln of bonds - market source

Aug 6 (Reuters) - Connecticut is expected to go to investors later this month for $500 million of additional financing, a market source said on Tuesday, just weeks after the state saw its borrowing costs rise at a bond sale in late July.

The latest sale of tax-exempt and taxable bonds, expected on Aug. 14, consists of $165 million of tax-exempt general obligation Securities Industry and Financial Markets Association Index bonds and $253 million of GOs, to be priced through lead manager M.R. Beal & Co.

In addition, Loop Capital Markets will price $100 million of taxable GOs for the state.

When Connecticut borrowed $200 million from investors on July 24, it had to pay 4.5 percent to borrow a part of it for 20 years. States with top credit ratings could have borrowed for just over 4 percent.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below