Maui County, Hawaii will competitively sell $105.8 million of general obligation bonds next week.
Bidding is slated to begin at 8:30 a.m., Sept. 18, according to Curt de Crinis, the county’s financial advisor.
The Series 2018 GO bonds will refund outstanding Series 2006 B&C Bonds and certain state revolving fund Loans and provide $100 million in new money.
The deal has ratings of Aa1 from Moody's Investors Service and AA-plus from Fitch Ratings and S&P Global Ratings.
“We had very successful bond sales in 2012, 2014 and 2015 with over 10 bids received from the market on each sale,” Mayor Alan Arakawa said.
Underwriter interest in Maui County has been strong—and the finance team anticipates the county will “compare very favorably to other Hawaii issuances,” de Crinis said.
Bond Counsel is Hawkins Delafield & Wood, LLC.
Maui was being hit by heavy rain and wind Wednsday from Tropical Storm Olivia, arriving on the heels of the recent Hurricane Lane.
Gov. David Ige signed a memorandum Tuesday granting state employees on Maui, Lanai and Moloka’I administrative leave as the state prepared for the severe weather.
