New Mexico Finance preps $84.55 million offering of refunding bonds

By Sheri Kasprzak

New York, Nov. 24 – The New Mexico Finance Authority is expected to price $84.55 million of series 2014B state transportation refunding revenue bonds, according to a preliminary official statement.

The deal includes $66.32 million of series 2014B-1 senior lien bonds (Aa1/AAA/) and $18.32 million of series 2014B-2 subordinate-lien bonds (Aa2/AA/).

The 2014B-1 bonds are due 2015 to 2027, and the 2014B-2 bonds are due 2015 to 2027.

The bonds were sold through RBC Capital Markets LLC and BofA Merrill Lynch.

Proceeds will be paid into the state road fund and will be used to refund existing debt.

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