Washington Treasurer Declares Bond Sales Successful

Washington Treasurer James McIntire said the state saw good results from its four competitive bond sales on Wednesday that totaled $560 million.

The state received nine bids for its $271 million of various-purpose general obligation bonds, which were won by Citi with a true interest cost of 3.2793%.

Bank of America Merrill Lynch had the lowest of nine bids for the state’s $167 million of GO bonds backed by motor vehicle fuel taxes, with a true interest cost of 3.4764%, the treasurer’s office said.

Bank of America Merrill Lynch and JPMorgan each had winning bids for two taxable GO sales worth $119 million.

Retail investors bought more than $31 million of motor vehicle fuel tax GO bonds in a separate negotiated sale.

“I am pleased with the favorable results of today’s bond sales,” McIntire said.

Proceeds from the bond sales will be used to pay for various capital projects, including for water supply, recreation, conservation and highways.

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