Florida Municipal Power to sell $79.6 million Stanton II Project bonds

By Sheri Kasprzak

New York, Aug. 23 - The Florida Municipal Power Agency is expected to come to market with $79.6 million of series 2012A Stanton II Project revenue bonds, according to a preliminary official statement.

The bonds (A1//A+) will be sold on a negotiated basis with Wells Fargo Securities LLC as the underwriter.

The maturities have not been set.

Proceeds will be used to finance capital improvements to the projects, retire the agency's series 2000 and 2004 revenue bonds, refund the agency's series 2002 revenue bonds and terminate a swap agreement related to the retired and refunded bonds.

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