Florida Municipal Power arranges $277.75 million revenue bond offering

By Sheri Kasprzak

New York, June 8 – The Florida Municipal Power Agency is set to price $277,745,000 of series 2015 all-requirement power supply revenue bonds, according to a preliminary official statement.

The deal includes $110.61 million of series 2015B bonds and $167,135,000 of series 2015C refunding bonds.

The bonds will be sold on a negotiated basis with BofA Merrill Lynch and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to construct a coal-fired power plant in Taylor County, Fla., as well as to repay draws under a credit agreement and to refund the agency’s series 2008A and 2009A revenue bonds.

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