Albuquerque organizes $58.8 million gross receipts revenue bond deal

By Sheri Kasprzak

New York, May 1 – The City of Albuquerque is expected to price $58.8 million of series 2015 gross receipts tax improvement revenue bonds during the week of May 4, according to a preliminary official statement.

The deal includes $40.54 million of series 2015A bonds, $10.11 million of series 2015B taxable bonds and $8.15 million of series 2015C refunding bonds.

The bonds (Aa2/AAA/AA+) will be sold through senior manager Baird & Co. with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the co-managers.

The 2015A bonds are due 2016 to 2038. The 2015B bonds are due 2016 to 2023. The 2015C bonds are due 2019 to 2030.

Proceeds will be used to equip and improve libraries, city visitor centers and public sports complexes and to improve a public bus rapid transit system and facilities, as well as to refund the city’s series 2008B gross receipts tax bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.