JEA, Fla., set to sell $57.29 million in revenue bonds week of Aug. 3

By Sheri Kasprzak

New York, July 28 - JEA of Jacksonville, Fla. plans to sell $57.285 million electric system revenue bonds during the week of Aug. 3, according to a preliminary official statement.

The deal includes $34.285 million in series three 2009B bonds (Aa2/AA-/AA-), $17.37 million in series three 2009C bonds (Aa2/AA-/AA-) and $5.63 million in series 2009E subordinated bonds (Aa3/AA-/A+).

The bonds will be sold on a negotiated basis with Merrill Lynch & Co. Inc. as the lead manager. The co-managers include Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Barclays Capital Inc., Goldman, Sachs & Co., Morgan Stanley & Co. Inc. and Wachovia Bank N.A.

The 2009B bonds are due 2010 to 2034 and the 2009C bonds are due 2016 to 2017. The 2009E bonds are due 2014 to 2016.

Proceeds will be used to refund outstanding bonds.

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