New Orleans organizes $155.73 million sewerage revenue bond sale

By Sheri Kasprzak

New York, June 12 – The City of New Orleans is expected to price $155.73 million of series 2014 sewerage service revenue and refunding bonds, according to a preliminary official statement.

The bonds (/A/BBB) will be sold on a negotiated basis with BofA Merrill Lynch, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC as the senior managers. The co-managers are Loop Capital Markets LLC, Raymond James/Morgan Keegan and Stephens Inc.

The maturities have not been set.

Proceeds will be used to expand, improve, construct and equip the city’s sewerage system, as well as to refund existing sewerage debt.

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