Allegheny County, Pa., prepares $186 million offering of G.O. bonds

By Sheri Kasprzak

New York, Aug. 20 - Allegheny County, Pa., plans to price $186 million of series 2013 general obligation bonds, according to a preliminary official statement.

The deal includes $135 million of series C-71A taxable G.O. refunding bonds, $16 million of series C-71B G.O. refunding bonds and $35 million of series C-72 G.O. bonds.

The bonds (A1/A+/) will be sold on a negotiated basis with PNC Capital Markets LLC as the senior manager and Drexel Hamilton LLC, the Huntington Investment Co., Janney Montgomery Scott LLC, RBC Capital Markets LLC and Rice Financial Products Co.

The series C-71A bonds are due 2013 to 2021, and the series C-71B bonds are due 2021 to 2023. The series C-72 bonds are due 2014 to 2027.

Proceeds will be used to refund the county's series C-57 notes.

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