Allegheny County, Pa., organizes $190 million offering of G.O. bonds

By Sheri Kasprzak

New York, June 16 – Allegheny County, Pa., is set to price $190 million of general obligation and G.O. refunding bonds, according to a preliminary official statement.

The deal includes $128 million of series C-73 G.O. bonds and $62 million of series C-74 G.O. refunding bonds.

The bonds (A1/AA-/) will be sold on a negotiated basis with PNC Capital Markets LLC as the senior manager. The co-managers are Boenning & Scattergood Inc., RBC Capital Markets LLC, Janney Montgomery Scott LLC, Loop Capital Markets LLC and Ramirez & Co. Inc.

The series C-73 bonds are due 2014 to 2024. The series C-74 bonds are due 2014 to 2034.

Proceeds will be used to finance county capital projects and to refund the county’s series C-57 G.O. notes.

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