CT treasurer finds strong market for special transportation bonds

State Treasurer Denise Nappier on Monday reported strong investor interest in the sale of $600 million in special transportation bonds. Demand exceeded supply as investors placed $734.2 million in orders.

The overall interest cost on the 20-year bonds is 3.67 percent.

The treasurer’s office sold $173.4 million to individual investors on the retail market before the bonds were offered to institutional investors.

The special transportation bonds will finance transportation infrastructure improvements. In many cases, the state investment leverages federal aid.