Metropolitan Washington Airports to price $235 million bonds March 25

By Cristal Cody

Tupelo, Miss., March 12 - The Metropolitan Washington Airports Authority intends to price the previously announced $235 million in revenue bonds on March 25, the issuer said Thursday.

The series 2009B bonds also will be offered through a two-day retail order period beginning March 23, said Valerie O'Hara, debt program manager.

The bonds have serial maturities from 2010 through 2029, according to a preliminary official statement.

Siebert Brandford Shank & Co., LLC is the senior manager of the negotiated sale.

The co-managers are Morgan Stanley & Co. Inc.; Banc of America Securities LLC; Barclays Capital Inc.; Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Loop Capital Markets, LLC; Merrill Lynch & Co.; and Morgan Keegan & Co., Inc.

The proceeds will be used to fund capital airport projects, refinance a portion of the authority's outstanding series one revenue commercial paper notes and pay to terminate interest rate swap agreements with Wachovia Bank and Bank of Montreal.

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