Connecticut’s $1.1 billion Special Tax Obligation (STO) transportation infrastructure bond sale has received strong investor demand from both retail and institutional buyers, according to Connecticut state Treasurer Shawn Wooden. A record $1.4 billion of retail orders for transportation bonds were placed, exceeding the prior record of $526 million in 2021.
The sale will provide $840 million in new funding for transportation projects across the state. The issuance of $313 million of refunding bonds are expected to save $24 million in interest costs over the life of the bonds.
“These bonds will provide the required state match for federal transportation funding that was expanded with the passage of the federal Bipartisan Infrastructure Law last year,” said Wooden. “That legislation includes a five-year reauthorization of federal programs with increases to all existing programs plus many new funding programs. The state is now eligible to compete for funds from the