Arizona plans $449 million sale of lottery revenue bonds Wednesday

By Sheri Kasprzak

New York, May 21 - The State of Arizona plans to sell $449 million in series 2010A lottery revenue bonds Wednesday, according to a sales calendar.

The bonds (A1/AA-/) will be sold through lead manager J.P. Morgan Securities Inc. The co-managers are Citigroup Global Markets Inc., Bank of America Merrill Lynch, Piper Jaffray & Co., Ramirez & Co. Inc. and Wedbush Morgan Securities LLC.

The bonds are due 2013 to 2029.

Proceeds from the sale will be deposited into the state's general fund to pay appropriated expenditures.

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