Florida Municipal Power to sell $110 million refunding revenue bonds

By Sheri Kasprzak

New York, Oct. 20 - The Florida Municipal Power Agency is expected to price $110 million in series 2008 revenue refunding bonds this week, according to a calendar of offerings.

The bonds (//A+) will be sold on a negotiated basis with Wachovia Bank as the senior manager. Banc of America Securities LLC and SunTrust Robinson Humphrey are the co-managers.

The bonds are due from 2009 to 2027 with a term bond, the maturity of which has not been determined.

The offering is part of a larger sale, which includes $40 million in series 2008 revenue refunding bonds for the Stanton coal project and $115 million in series 2008A bonds for the St. Lucie nuclear project.

Proceeds from this sale will be used for the Stanton II project, a coal-powered electric-generating unit.

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