The State of Connecticut (the "State") is expected to come to market with $700 million in General Obligation Bonds ("2020 Series A Bonds") and $197 million in General Obligation Bonds ("2020 Series B Bonds")
The proceeds of the 2020 Series A Bonds are expected to be used for various projects and purposes of the State. The proceeds of the 2020 Series B Bonds are expected to be used to refund some or all of the following maturities and principal amounts of outstanding general obligation bonds of the State on the redemption dates and at the redemption prices as set forth in the Preliminary Official Statement.
The Bonds will be general obligations of the State of Connecticut and the full faith and credit of the State will be pledged for the payment of the principal of and interest on the Bonds as the same become due.
Some of the 2020 Series A Bonds are subject to optional redemption prior to maturity as described in the Preliminary Official Statement. The Series B Bonds are not subject to redemption prior to maturity.
The bonds are expected to be rated A1 by Moody's and A by S&P.2
The bond sale offers attractive benefits to individual investors including prices and yield that match those available to institutional investors and the potential for stable income through the call dates. And, for Connecticut residents, federal and state tax-exemption on the 2020 Series A and 2020 Series B bond coupon payments.
How to place an order
The offer is expected to price the week of December 9, 20191, either online or by calling a Fidelity representative at 800-544-5372. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity AlertsLog In Required or visit our Municipal Bond New Issue offerings page.