Alabama Incentives Financing to price $141.7 million bonds Thursday

By Sheri Kasprzak

New York, Sept. 10 - The Alabama Incentives Financing Authority plans to price $141.695 million in series 2009 special obligation and special obligation refunding bonds, according to a preliminary official statement. The sale is expected on Thursday, according to a sales calendar.

The sale includes $24.465 million in series 2009A tax-exempt special obligation refunding bonds, $99.43 million in series 2009B taxable special obligation refunding bonds and $17.8 million in series 2009C tax-exempt Build America Bonds.

The bonds (/AA+/) will be sold through lead manager Morgan Stanley & Co. Inc. The co-managers are The Frazer Lanier Co. Inc. and Joe Jolly & Co. Inc.

The series 2009A bonds are due 2011 to 2019 with term bonds due 2024 and 2029. The 2009B bonds are due 2014, 2019 and 2029. The 2009C bonds are due 2011 to 2019 with term bonds due 2024 and 2029.

Proceeds will be used to fund noncommercial research projects at the University of Alabama at Birmingham, as well as to refund existing debt.

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