Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Municipal Electric Authority of Georgia > News item |
Municipal Electric, Ga., to sell $297.04 million subordinated bonds
By Sheri Kasprzak
New York, Nov. 5 - The Municipal Electric Authority of Georgia plans to price $297.035 million in subordinated bonds, according to a preliminary official statement.
The sale includes $285.595 million in series 2008D Project One subordinated bonds and $11.44 million in series 2008C general resolution projects subordinated bonds (//A+).
The offering is expected to price during the week of Nov. 17, an issuer source confirmed with Prospect News Wednesday. The exact pricing date has not yet been determined.
J.P. Morgan Securities Inc. is the lead manager for the deal. The co-managers are Banc of America Securities LLC, Barclays Capital, Citigroup Global Markets, Goldman, Sachs & Co., Merrill Lynch & Co., Morgan Stanley & Co. Inc., Raymond James & Associates and Wachovia Bank.
Proceeds will be used to refund outstanding subordinated bonds, to fund the acquisition of nuclear fuel and to fund a debt service reserve account.
© 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.