Connecticut Gov. M. Jodi Rell last week announced that she would not seek re-election in 2010.
The announcement came as the state issued $1.08 billion of tax-exempt general obligation notes to help close an estimated $624 million gap for the current fiscal year. Citi priced the deal Thursday after a retail order period Tuesday, with maturities from 2012 to 2016. Notes due in 2016 featured a 5% coupon and a yield of 2.64%. The state also sold $165.7 million of bonds maturing in 2012 through 2014. Bonds due in 2014 had a 5% coupon and a 2% yield.