Pennsylvania Economic authority plans $102.44 million bonds for Amtrak

By Sheri Kasprzak

New York, March 2 - The Pennsylvania Economic Development Authority is set to price $102.44 million of series 2012A exempt facilities revenue refunding bonds for an Amtrak project, according to a preliminary official statement.

The bonds (A1/A-) will be sold on a negotiated basis with Goldman, Sachs & Co. and J.P. Morgan Securities LLC as the lead managers.

The maturities have not been set.

Proceeds will be used to refund the authority's series 2001A bonds, which were used to fund the construction and equipment of the Richmond Frequency Converter in Philadelphia for Amtrak.

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