Municipal Gas Authority, Ga., preps $50 million sale of revenue bonds

By Sheri Kasprzak

New York, June 6 - The Municipal Gas Authority of Georgia is set to price $50 million of gas revenue bonds, said a preliminary official statement.

The offering includes $30 million of series L bonds, $10 million of series M bonds and $10 million of series N bonds.

The bonds (A1/AA-/A+) will be sold through senior managers J.P. Morgan Securities LLC and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to provide funds to Public Gas Partners Inc. to refinance the costs of acquiring certain gas reserves, as well as to refund the authority's series J bonds.

Based in Kennesaw, Ga., the authority is a natural gas supplier.

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