Palm Beach County, Fla., readies $122.24 million G.O. bond offering

By Sheri Kasprzak

New York, Nov. 13 – Palm Beach County, Fla., is scheduled to price $122.24 million of series 2015 professional sports franchise public improvement general obligation bonds on Wednesday, according to a preliminary official statement.

The bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager and Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the co-managers.

The deal includes $65.39 million of series 2015C and $56.85 million of series 2015D taxable bonds.

The 2015C bonds are due 2017 to 2030 with term bonds due in 2035 and 2045.

The 2015D bonds are due 2024 to 2040 with a term bond due in 2045.

Proceeds will be used to construct a new professional sports franchise facility in the county.

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