Mississippi Development Bank preps $83 million special obligation debt

By Sheri Kasprzak

New York, June 3 - Mississippi Development Bank is set to price $83 million of series 2014 special obligation bonds, said a preliminary official statement.

The bonds (Aa3/AA-/) will be sold on a negotiated basis with Raymond James/Morgan Keegan as the senior manager. The co-managers are Morgan Stanley & Co. LLC, Duncan-Williams Inc. and Stephens Inc.

The bonds are due 2015 to 2030.

Proceeds will be used to finance a loan to De Soto County, Miss., to fund a highway capital project.

Mississippi Development Bank was created to finance infrastructure improvements and other public purposes. It is administered by the Mississippi Business Finance Corp., which is based in Jackson, Miss.

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