Nashville and Davidson County, Tenn., to bring $227.91 million of bonds

By Cristal Cody

Tupelo, Miss., April 4 - The Metropolitan Government of Nashville and Davidson County, Tenn., intends to price $227.91 million of series 2013 water and sewer revenue bonds, according to a preliminary official statement.

The bonds (Aa3/AA-/) have serial maturities from 2022 through 2033 and terms due 2038 and 2043.

Morgan Stanley & Co. LLC is the senior manager of the negotiated sale. Co-managers are Jefferies & Co.; Raymond James/Morgan Keegan; Piper Jaffray & Co.; Rice Financial Products Co.; and Wiley Bros.-Aintree Capital, LLC.

Proceeds will be used to retire $125 million of outstanding water and sewer commercial paper bond anticipation notes on or before May 7 and finance various capital improvements.

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