Indianapolis plans to price $70.805 million revenue refunding bonds

By Cristal Cody

Springdale, Ark., May 27 - Indianapolis intends to price $70.805 million second-lien revenue refunding bonds, according to a preliminary official statement.

The series 2008C Gas Utility Distribution System bonds (Aaa/AAA/) have serial maturities from 2009 through 2021.

The bonds are insured by Assured Guaranty Corp.

Morgan Stanley is the senior manager of the negotiated sale. City Securities Corp. is the co-manager.

Proceeds will be used to refund the city's series 2003A gas utility second-lien multi-modal revenue refunding bonds, to provide a payment to JPMorgan Chase Bank for a termination of an interest rate swap agreement on the bonds and to provide funds for the Gas Utility Distribution System.

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