New Jersey Environmental Infrastructure to sell $95.11 million bonds

By Sheri Kasprzak

New York, April 12 - The New Jersey Environmental Infrastructure Trust is prepared to price $95.11 million of series 2012 environmental infrastructure bonds on Wednesday, according to a preliminary official statement.

The deal includes $68,565,000 of series 2012A bonds, $21,755,000 of series 2012B AMT bonds and $4.79 million of series 2012C taxable bonds.

The bonds (Aaa/AAA/AAA) will be sold on a competitive basis with Public Financial Management Inc. as the financial adviser.

The 2012A bonds are due 2013 to 2031, and the 2012B bonds are due 2013 to 2031. The 2012C bonds are due 2014 to 2031.

Proceeds will be used to finance smart growth projects in urban areas, make land purchases for open space and small water system projects.

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