State of Hawaii Fiscal Resilience Plan
Transaction Summary
STATE
OF
HAWAIT
Issuer:
State of Hawaii ("State")
Issue:
$750,000,000* Taxable General Obligation Bonds of 2023 ("Bonds")
Ratings:
Security:
Moody's: Aa2 (Stable), S&P: AA+ (Stable), Fitch: AA (Stable)
The Full Faith and Credit of the State of Hawaii
Preliminary Amortization (All Serial Bonds)*
Maturity Date
Series GM
4/1/2024
$48,670,000
10/1/2024
21,155,000
10/1/2025
22,405,000
10/1/2026
23,735,000
Series:
Par Amount:*
Purpose:
Amortization:*
Tax Status:
Series GM
10/1/2027
25,140,000
$750,000,000
New Money
10/1/2028
26,625,000
10/1/2029
28,165,000
10/1/2030
29,745,000
4/1/2024 10/1/2042
10/1/2031
31,400,000
Federally Taxable; State of Hawaii Tax-Exempt
10/1/2032
33,160,000
10/1/2033
35,035,000
Call Provision:*
To be Determined
10/1/2034
37,040,000
Senior Manager:
Morgan Stanley
10/1/2035
39,195,000
10/1/2036
41,490,000
Co-Senior Managers:
BofA Securities, Citigroup
10/1/2037
43,945,000
Jefferies, J.P. Morgan, Loop Capital Markets, Piper Sandler,
10/1/2038
46,565,000
Co-Managers:
Raymond James, RBC Capital Markets, Stifel, Wells Fargo
10/1/2039
49,380,000
10/1/2040
52,405,000
Pricing:*
Closing:*
Indications of Interest: December 5, 2023
Institutional Order Period: December 6, 2023
December 19, 2023
10/1/2041
55,640,000
10/1/2042
59,105,000
Total
$750,000,000
2
*Preliminary, subject to change.View entire presentation