Hawaii to Sell $1.9 Billion in Taxable GO Bonds on Wednesday

The state of Hawaii is selling $1.9 billion in taxable general obligation bonds on Wednesday to finance capital spending programs and existing debt, according to preliminary documents.

The sale includes a $600 million series with a final maturity in 2041, and with the remaining bonds intended for refunding. Bank of America Securities Inc. is the book running senior manager of a five-bank syndicate on the deal.

Why It’s Noteworthy

The pandemic hit hard at Hawaii’s tourism industry. However, the state’s revenues and general credit have stayed resilient due to $19.4 billion in federal grants and loans, with $1.64 billion ...