CHICAGO - Minnesota tentatively plans to price $468 million issue of general fund appropriation-backed bonds next week for a new Minnesota Vikings stadium, according to market sources.

The sale was originally slated to price the week of Jan. 13 but a legal challenge prompted the state to delay the issue. The Minnesota Supreme Court dismissed the challenge on Tuesday and the state late Thursday posted an updated offering statement.

Sources said the pricing would likely take place on Monday. The state did not immediately confirm the reports, which came from numerous market participants.

The public agency overseeing the stadium had warned the project could be delayed without a quick infusion of bond proceeds.

RBC Capital Markets is bookrunner on the deal with JPMorgan and Wells Fargo Securities as co-senior managers. Public Financial Management Inc. is financial advisor and Kutak Rock is bond counsel.

The state carries general obligation ratings in the high-double-A category from all three rating agencies and appropriation-backed ratings of AA from Fitch and Standard & Poor's.

The Minnesota Supreme Court on Tuesday ruled that it did not have jurisdiction over the challenge mounted by a group of citizens. They filed the writ of prohibition with the state's high court just days before the scheduled bond pricing, prompting the state to withdraw the deal. The group argued the city's portion of the financing package included in the 2012 stadium legislation signed by Gov. Mark Dayton violated state law.

The bond sale will cover Minneapolis' up to $150 million contribution and Minnesota's up to $350 million contribution for the new $975 million stadium for the National Football League team. The Vikings are covering the remaining costs.

The 65,000-seat stadium is being built adjacent to the team's longtime home, the 31-year-old Hubert H. Humphrey Metrodome. Officials broke ground last month.

Minnesota Management and Budget is offering the deal in two series including a $397.7 million tax-exempt tranche and a $70.3 million taxable tranche. The tax-exempt piece matures through 2043 with principal repayment beginning in 2015. The tentative structure on the tax-exempt securities calls for term bonds of $89 million in 2038 and $114 million in 2043. Term bonds in 2034 for $12.6 million and in 2043 for $32.6 million are planned. The tax-exempt piece features a 10-year call and the taxable a 10-year make-whole call.

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