Mesa, Ariz., to sell $101.5 million of excise tax revenue obligations

By Sheri Kasprzak

New York, March 20 - The City of Mesa, Ariz., is set to price $101.5 million of series 2013 excise tax revenue obligations, according to a preliminary official statement.

The bonds (Aa3/AA+/) will be sold on a negotiated basis with BofA Merrill Lynch as the lead manager. The co-managers are Morgan Stanley & Co. LLC and RBC Capital Markets LLC.

The bonds are due 2027 and 2032.

Proceeds will be used to construct a spring training facility to be initially used by the Chicago Cubs, as well as to renovate the Hohokam Stadium.

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