JEA, Fla., to bring $321.76 million in revenue bonds Tuesday, Thursday

By Sheri Kasprzak

New York, Sept. 24 - JEA of Florida plans to bring to market its previously announced $321.76 million in series 2010 electric system revenue bonds in two offerings on Tuesday and Thursday, said a sales calendar.

The deal includes $217.035 million in series three 2010D revenue bonds and $10.7 million in series 2010C subordinated revenue bonds, which will price Tuesday, and $34.315 million in series three 2010E Build America Bonds, $52.435 million in series 2010D subordinated revenue bonds and $7.275 million in series 2010E subordinated revenue bonds, which will price Thursday.

Citigroup Global Markets Inc. is the senior bookrunning manager for the series three 2010D bonds and the 2010C subordinated bonds. Goldman, Sachs & Co. is the senior bookrunning manager for the series three 2010E bonds, the 2010D subordinated bonds and the 2010E subordinated bonds. J.P. Morgan Securities Inc., Barclays Capital Inc., Bank of America Merrill Lynch, Morgan Stanley & Co. Inc. and Wells Fargo Securities LLC are the co-managers.

The series three 2010D bonds are due 2011 to 2031 with term bonds due 2035 and 2037. The series three 2010E bonds are due 2028 to 2040. The 2010C subordinated bonds are due 2020 to 2027, and the 2010D subordinated bonds are due 2016 to 2027. The 2010E subordinated bonds are due 2012 to 2015.

Proceeds will be used to fund the construction, extension and expansion of JEA's electric system and refund on Oct. 22 the authority's series three 2008D-2A, series three 2008D-2B and series three 2008D-2 variable-rate bonds.

Jacksonville Electric Authority is a water and electric system in Jacksonville, Fla.

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