Phenix City Industrial Development Board, Ala., readies $57.85 million bond deal

By Sheri Kasprzak

New York, Nov. 9 - The Phenix City Industrial Development Board of Alabama is expected to price $57.85 million of series 2012 environmental improvement revenue refunding bonds for the MeadWestvaco Coated Board Project, according to a preliminary official statement.

The deal includes $51 million of series 2012A AMT bonds and $6.85 million of series 2012B non-AMT bonds.

The bonds (Baa3/BBB/) will be sold through Bank of America Merrill Lynch.

The series 2012A bonds are due May 15, 2035, and the 2012B bonds are due May 15, 2030.

Proceeds will be used to refund debt issued to finance sewage and solid waste disposal facilities at the MeadWestvaco paper mill in Phenix City, Ala.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.