Michigan Municipal Bond Authority to sell $241.31 million state revolving fund revenue bonds

By Sheri Kasprzak

New York, March 1 - The Michigan Municipal Bond Authority is set to sell $241.305 million in series 2010 state revolving fund revenue bonds, according to a preliminary official statement.

The offering includes $172.04 million in series 2010 clean water revolving fund pooled project bonds and $69.265 million in series 2010 clean water revolving fund subordinate refunding bonds.

The bonds (/AAA/AAA) will be sold on a negotiated basis with Bank of America Merrill Lynch and Citigroup Global Markets Inc. The co-managers are Cabrera Capital Markets Inc., Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, J.P. Morgan Securities Inc., Loop Capital Markets LLC and Roosevelt & Cross Inc.

The pooled project bonds are due 2011 to 2030, and the refunding bonds are due 2010 to 2020.

Proceeds will be used to fund clean water initiatives and refund the authority's series 1998 clean water bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.