Colorado Goes Dutch for Historic $300 Million Note Sale

Albanese, Elizabeth
June 2003
Bond Buyer;6/24/2003, Vol. 344 Issue 31663, p26
Trade Publication
Colorado plans to sell $300 million of tax anticipation notes (Tans) on June 30, 2003 in a deal that is said to mark the first-ever sale of municipal notes via Dutch auction. The Tans, which will be used to bridge revenue gaps for the state, will be sold competitively. Chris Blackwood, a senior vice president with U.S.-based Kirkpatrick Pettis, said he put together a comprehensive study on Dutch auctions for the state to pitch the deal, which is being touted in the market as the first-ever Dutch auction transaction of notes in the municipal market.


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