Mississippi Development Bank coordinates $86.72 million sale of bonds

By Sheri Kasprzak

New York, Nov. 20 – The Mississippi Development Bank is expected to price $86.72 million of series 2015A power supply special obligation refunding bonds on Tuesday, according to a preliminary official statement.

The bonds (Baa1/BBB/) will be sold on a negotiated basis with Wells Fargo Securities LLC and Piper Jaffray & Co. as the lead managers.

The bonds are due 2016 to 2035 with a term bond due in 2041.

Proceeds will be used to finance a loan to the Municipal Energy Agency of Mississippi, the proceeds of which will be used to refund the bank’s series 2006 special obligation bonds.

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