Connecticut's issuance of variable-rate remarketed obligations, or VROs, could set a national precedent, according to state Treasurer Denise Nappier.

"We are excited to be the inaugural issuer of VROs in the country," Nappier said of the $314.3 million of general obligation refunding notes which included the VROs. Proceeds will refund a portion of the state's outstanding Series 2009A economic recovery notes and extend the final maturity from 2016 to 2018.

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