Florida Development Finance to price $88.48 million revenue bonds for Renaissance Charter

By Sheri Kasprzak

New York, May 27 - The Florida Development Finance Corp. is expected to price $88.475 million of series 2011 educational facilities revenue bonds for the Renaissance Charter Schools Inc., according to a preliminary official statement.

The offering includes $85.135 million of series 2011A tax-exempt bonds and $3.34 million of series 2011B taxable bonds.

The bonds (//BB+) will be sold on a negotiated basis with B.C. Ziegler & Co. as the senior manager.

The maturity dates have not been set.

Proceeds will be used to finance and refinance the construction, acquisition and equipment of charter schools in Broward, Duval and Miami-Dade counties.

Based in Tallahassee, Fla., the corporation provides funding for industrial development and related projects.

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