Florida Municipal Power to sell $562.51 million revenue bonds Sept. 4

By Sheri Kasprzak

New York, Aug. 21 - The Florida Municipal Power Agency intends to sell $562.51 million in series 2008 all-requirements power supply project revenue bonds on Sept. 4, a sellside source said Thursday.

The bonds (//A+) will be sold on a negotiated basis with Merrill Lynch as the senior manager. The co-managers are J.P. Morgan Securities Inc.; Morgan Stanley & Co. Inc.; Goldman, Sachs & Co.; Banc of America Securities LLC; and SunTrust Robinson Humphrey.

The sale includes $492.06 million in series 2008A bonds, which are due from 2010 to 2028, with term bonds due 2033, as well as $70.45 million in series 2008B bonds due 2010 to 2018.

Proceeds will be used for construction of the Cane Island Unit No. 4 generation project as well as to refund auction-rate securities.

© 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.