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Memphis, Tenn., arranges $131.3 million of general improvement bonds
By Sheri Kasprzak
New York, April 10 – The City of Memphis is slated to hit the market Tuesday with $131,305,000 of series 2015 general improvement refunding bonds, according to a preliminary official statement.
The deal includes $77,015,000 of series 2015A tax-exempt bonds and $54.29 million of series 2015B taxable bonds.
The bonds (Aa2) will be sold through senior manager Raymond James/Morgan Keegan. The co-managers are Duncan-Williams Inc., Piper Jaffray & Co., SunTrust Robinson Humphrey Inc., FTN Financial Capital Markets and Harvestons Securities Inc.
The maturities have not been set.
Proceeds will be used to refund the city’s series 2006A, 2008, 2009, 2010A, 2011 and 2014B general improvement bonds.
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