Florida Municipal Power Agency plans $170.44 million revenue bonds issue

By Sheri Kasprzak

New York, April 7 - The Florida Municipal Power Agency plans to price $170.435 million in series 2009 all-requirements power supply revenue bonds, according to a preliminary official statement.

The sale includes $154.195 million in series 2009A bonds and $16.24 million in series 2009B taxable bonds.

The bonds (A1//A+) will be sold on a negotiated basis with Merrill Lynch & Co. Inc. as the lead manager. The co-managers are J.P. Morgan Securities Inc., Morgan Keegan & Co. Inc. and Wachovia Bank.

Pricing is expected in April.

The 2009A bonds are due 2012 to 2031 and the 2009B bond is a term bond due 2019.

Proceeds will be used to construct the agency's Cane Island Unit No. 4, as well as to finance obligations to Public Gas Partners Inc. under a gas supply agreement.

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