Vermont will market $20 million of tax-exempt general obligation bonds on Thursday in increments of $1,000 with state residents and businesses getting priority. Investors will have to place orders with a registered broker-dealer.
The so-called Vermont Citizens’ Bonds will be offered as Series 2010B bonds with serial maturities up to 10 years.
Treasurer Jeb Spaulding said a similar offering last year been sold out in less than three hours. The state will also market $29.7 million of Series C-1 and $9 million of Series C-2 refunding bonds to traditional investors. The GOs will have serial maturities out to 2021.
Citi will underwrite the deal. Edwards Angell Palmer Dodge LLP is bond counsel and Government Finance Associates Inc. is financial adviser.
Moody’s Investors Service rates the bonds Aaa while Fitch Ratings and Standard & Poor’s rates them AA-plus, all with stable outlooks.
