San Mateo County Joint Powers, Calif., to sell $186.93 million of debt

By Sheri Kasprzak

New York, April 30 - The San Mateo County Joint Powers Financing Authority of California plans to price $186.93 million of series 2014A lease revenue bonds for the Maple Street Correctional Center, according to a preliminary official statement.

The bonds (Aa2/AA+/) will be sold through senior managers Citigroup Global Markets Inc. and Raymond James/Morgan Keegan. The co-managers are Barclays and Siebert Brandford Shank & Co. LLC.

The bonds are due 2017 to 2034 with a term bond due in 2038.

Proceeds will be used to finance the acquisition, construction and equipment of the correctional center, as well as to refund notes issued to reimburse the authority for the costs of the correctional center project.

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