Indiana Finance Authority to sell $178.87 million lease revenue bonds March 18 or March 19

By Sheri Kasprzak

New York, March 17 - Indiana Finance Authority will sell $178.87 million in lease revenue bonds (Aa3/AA/AA) on either March 18 or March 19, said Dan Kramer, director of debt management for the authority.

"We anticipate March 18 or 19, but [it's] subject to market conditions," Kramer told Prospect News Monday morning.

The offering includes $127.29 million in series 2008A-1 and 2008A-2 lease revenue refunding bonds and $51.58 million in series 2008B lease revenue refunding bonds.

The 2008A-1 bonds are due from 2011 to 2018. The maturities for the 2008A-2 bonds have not been set.

The 2008B bonds are due 2008 to 2011.

The bonds will be sold on a negotiated basis through lead manager Morgan Stanley. The co-managers are Banc of America Securities LLC, City Securities Corp., SBK-Brooks Investment Corp. and Wachovia Bank.

Proceeds from the sale will be used to refund the authority's outstanding series 2004A, 2004B and 2004C bonds.

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