Municipal Electric Authority of Georgia plans $350 million power bonds

By Sheri Kasprzak

New York, May 10 – The Municipal Electric Authority of Georgia plans to price $350 million of series 2016 power bonds, according to a preliminary official statement.

The offering will be conducted in four tranches, but the exact breakdown of those tranches was not immediately available.

The bonds will be sold through senior manager BofA Merrill Lynch. The co-managers are Barclays, Citigroup Global Markets Inc., Fidelity Capital Markets LLC, FTN Financial Capital Markets, Goldman, Sachs & Co., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Raymond James/Morgan Keegan, Stephens Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and William Blair & Co.

Proceeds will be used to finance capital improvements to the authority’s power system and refund existing bonds.

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