Indiana Finance Authority plans to convert $400 million bonds from PARS mode to variable rate

By Cristal Cody

Springdale, Ark., March 14 -The Indiana Finance Authority plans to convert $400 million bonds from the PARS mode to a variable-rate mode in late March and April.

The series 2005 A lease appropriation bonds for the stadium project were sold as series A-1, A-2, A-3, A-4 and A-5 Periodic Auction Reset Securities.

The $90 million series A-4 bonds will convert on March 28, according to a notice released Thursday.

The $100 million series A-5 bonds and $70 million series A-3 bonds will convert on March 31.

Series A-1 bonds of $70 million will convert on April 1, and series A-2 bonds of $70 million will convert on April 2.

Goldman, Sachs & Co., City Securities Corp. and Citigroup Global Markets are the co-brokers for the A-1 bonds.

Goldman and Wachovia Securities are co-brokers on the A-2 bonds.

Goldman and Merrill Lynch, Pierce, Fenner & Smith Inc. are co-brokers for the A-3 bonds.

Goldman and JPMorgan Securities are co-brokers for the A-4 bonds.

City Securities and JPMorgan are the co-brokers for A-5 bonds.

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