Mobile Downtown Redevelopment, Ala., to sell $225 million of revenue bonds for Austal USA

By Sheri Kasprzak

New York, April 27 - The Mobile Downtown Redevelopment Authority is expected to price $225 million of series 2011 Gulf Opportunity Zone revenue bonds for Austal USA LLC, said a preliminary official statement.

The deal includes $112.5 million of series 2011A bonds and $112.5 million of series 2011B bonds.

The bonds will be sold through Merrill Lynch and Thornton Farish Inc.

Both bonds are due May 1, 2041.

Proceeds will be used to finance the construction and equipment of a modular manufacturing facility for Austal's shipbuilding operations. The project will expand the company's current operation in Mobile, Ala.

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