JEA, Fla., arranges $159.06 million sale of water and sewer bonds

By Sheri Kasprzak

New York, July 16 - The Jacksonville Electric Authority of Florida plans to come to market with $159,055,000 of series 2012 water and sewer system revenue bonds during the week of July 16, according to a preliminary official statement.

The offering includes $133.48 million of series 2012B senior bonds and $25,575,000 of series 2012B subordinate bonds.

The bonds (/AA/) will be sold on a negotiated basis with Jefferies & Co. as the senior manager. The co-managers are Bank of America Merrill Lynch, Barclays Capital Inc., BMO Capital Markets, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Piper Jaffray & Co., Raymond James/Morgan Keegan, RBC Capital Markets LLC and Wells Fargo Securities LLC.

The maturity dates have not been set.

Proceeds will be used to refund the authority's outstanding series 2005A, 2005C, 2007A and 2007C water and sewer system revenue bonds.

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