By Aaron Hochman-Zimmerman
New York, Dec. 11 - The Michigan Municipal Bond Authority priced $150 million series 2008 state clean water revolving fund revenue bond anticipation notes (MIG1), according to Terry Stanton, bond authority spokesman.
The preliminary yield is 0.88% for the bonds, which are due July 15, 2009.
The issue priced on Wednesday.
JPMorgan and Citigroup acted as underwriters for the bonds.
Proceeds from the sale will be used to fund loans to local government entities for the purpose of financing water pollution control programs and drinking water projects.
Issuer: Michigan Municipal Bond Authority
Issue: Series 2008A revenue refunding bond anticipation notes
Amount: $150 million
| Maturity: | July 15, 2009
|
| Yield: | 0.88% (preliminary)
|
| Underwriter: | JPMorgan, Citigroup
|
| Pricing date: | Dec. 10
|
| Ratings: | Moody's: MIG1
|
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