Day Pitney Advises on $550 Million in Bond Sales for State of Connecticut

Hartford, CT, March 23, 2016 - Day Pitney LLP represented the State of Connecticut as disclosure counsel in a general obligation bond sale of $550 million.

The sale drew interest from both individual and institutional investors alike, and resulted in a low overall interest rate of 3.07 percent, the lowest cost of funds on any comparable state obligation bond issue in the last 15 months. As lead bond counsel, the firm led and coordinated the issuance of the bonds with six bond counsel firms, separate tax counsel, underwriters’ counsel and co-disclosure counsel.  The bonds are scheduled to be delivered on March 30, 2016. 

Finance partner Namita Tripathi Shah led the Day Pitney team on these transactions, which also included Judith Blank, Glenn Rybacki, Susan Albert, Teri McGehan and Karen Ashe.