Alabama organizes $119.07 million sale of special obligation bonds

By Sheri Kasprzak

New York, Oct. 2 - The Alabama Incentives Financing Authority intends to price $119,065,000 of series 2012A tax-exempt special obligation bonds, according to a preliminary official statement.

The bonds (Aa3/A+/) will be sold on a negotiated basis with Raymond James/Morgan Keegan and Piper Jaffray & Co. as the senior managers. The co-managers are Merchant Capital LLC and Terminus Securities LLC.

The bonds are due 2013 and 2030 to 2042 with term bonds, the maturities of which have not been determined.

Proceeds will be used to finance economic development projects in the state.

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