Municipal Electric Authority of Georgia preps $245 million bond deal

By Sheri Kasprzak

New York, Oct. 15 - The Municipal Electric Authority of Georgia plans to price $245 million of series 2012 revenue bonds during the week of Oct. 15, according to a sales calendar.

The deal includes $50 million of series 2012B general power revenue bonds (A1//A+), $140 million of series 2012GG general power revenue bonds (A1//A+), $5 million of series 2012C general resolution projects subordinate bonds (A2//A+) and $50 million of series 2012C project one subordinate lien bonds (A2//A+).

The bonds will be sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager.

Proceeds will be used to refund existing debt and make various system improvements.

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