State of Connecticut Taxable General Obligation Bonds (2017 Series A) General Obligation Bond Anticipation Notes (“BANs”) (2017 Series A)
The State expects to offer $850,000,000 of securities for competitive bid only to qualified institutional investment banking firms.
Considerations
Before you buy any bonds, you should read the related Preliminary and final Official Statement, which will contain all available information about the bonds.
See the Official Statement for further and detailed information regarding the tax status of the bonds. Before deciding to purchase any bonds, investors should consult their tax advisors to determine the applicable federal, state and local tax consequences of owning any bonds.
Schedule* |
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| Expected Pricing: | Monday, December 11, 2017 |
| Expected Date of Delivery: | Thursday, December 21 2017 |
Transaction Overview* |
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| Estimated Size of Taxable Bonds: | $450,000,000 |
| Estimated Size of BANs: | $400,000,000 |
| Security: | General Obligation |
| Expected Structure of Taxable Bonds: | Serial Bonds due January 15 2019-2028 |
| Expected Structure of BANs: | Note due September 14, 2018 |
| Securities Offered: | Fixed Rate |
| Bond Insurance: | None |
| Call Feature for Optional Redemption (Taxable Bonds): | Non-Callable |
| Call Feature for Optional Redemption (BANS): | Non-Callable |
| Interest Payment Dates 2017 (Taxable Bonds): | July 15 and January 15 |
| Interest Payment Dates 2017 (BANS): | Not Applicable |
| Denominations: | $5,000, or any integral multiple thereof |
| Ratings: | Moody’s: A1 (Bonds) MIG1 (BANs) |
| S&P: A+ (Bonds) SP-1+ (BANs) | |
| Fitch: A+ (Bonds) F1+ (BANs) | |
| Kroll: AA- (Bonds) K1+ (BANs) | |
| Expected Tax Status: | Interest on the Taxable Bonds is not exempt from federal income tax. Interest on the BANS is exempt from federal income tax and, for Connecticut Residents, is also State tax-exempt. |
| Notices of Sale: | Download the Notice of Sale – $450,000,000* Taxable General Obligation Bonds (2017 Series A) |
| Preliminary Official Statement: | Download the Preliminary Official Statement |
*Preliminary Subject to Change