Arizona School Facilities Board preps $315.4 million sale of taxable refunding bonds

By Sheri Kasprzak

New York, March 12 - The Arizona School Facilities Board plans to price $315.4 million of series 2013 taxable school facilities revenue refunding bonds, according to a preliminary official statement.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with BofA Merrill Lynch and Citigroup Global Markets Inc. as the senior managers. The co-managers are Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Piper Jaffray & Co. and Ramirez & Co. Inc.

The bonds are due 2014 to 2020.

Proceeds will be used to refund the board's series 2005 school improvement revenue bonds.

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