By Cristal Cody
Springdale, Ark., March 19 - The Mississippi Business Finance Corp. priced $77.24 million variable-rate demand revenue bonds with an initial 2.78% interest rate, a sellside source said Wednesday.
The series 2008 term bonds (A1/-/-) for the Renaissance at Colony Park project will reset weekly.
The bonds are due May 1, 2035.
Morgan Keegan & Co. is the underwriter.
Proceeds will be used for the development project, a shopping, dining and office complex located near the Natchez Trace Parkway.
| Issuer: | Mississippi Business Finance Corp/ Renaissance at Colony Park
|
| Issue: | Variable-rate demand revenue bonds
|
| Amount: | $77.24 million
|
| Type: | Negotiated
|
| Maturity: | May 1, 2035
|
| Initial rate: | 2.78%
|
| Set: | Weekly
|
| Underwriter: | Morgan Keegan & Co.
|
| Rating: | Moody's: A1
|
| Pricing date: | March 17
|
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