City of Memphis to sell $92.37 million revenue refunding bonds Tuesday

By Sheri Kasprzak

New York, June 16 - The City of Memphis intends to price $92.37 million in series 2008 electric system subordinate revenue refunding bonds on Tuesday, according to a calendar of upcoming sales.

The bonds (//AA) will be sold on a negotiated basis with Morgan Keegan & Co. as the senior manager.

Proceeds from the offering will be used to refund the city's outstanding series 2003B auction-rate bonds.

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