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Georgia Municipal Electric to price $222.705 million subordinated bonds
By Cristal Cody
Springdale, Ark., July 7 - The Municipal Electric Authority of Georgia plans to price $222.705 million subordinated bonds on Thursday, depending on the market, the issuer said Monday.
The sale includes $159.18 million series 2008A project 1 subordinated bonds and $63.525 million series 2008A general resolution projects subordinated bonds.
The pricing date also will depend on when the bonds' ratings are assigned, said James Fuller, chief financial officer.
The bonds have serial maturities from 2009 through 2021.
Morgan Stanley is the senior manager of the negotiated sale.
Co-managers are Citigroup Global Markets; Goldman, Sachs & Co.; Merrill Lynch & Co.; Raymond James; and Wachovia Bank, NA.
Proceeds will be used to refund the series 2000B general resolution projects subordinated bonds and commercial paper notes and the series 2000C, 2000D and 2000E project one subordinated bonds and commercial paper notes.
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