Arizona School Facility Board to sell $80.2 million of refunding COPs

By Cristal Cody

Tupelo, Miss., Nov. 27 - The Arizona School Facility Board plans to sell $80,195,000 of series 2013 refunding certificates of participation (A1/A+/), according to a preliminary official statement.

The deal includes $30.12 million of series 2013A-1 bonds due 2014 through 2019 and $50,075,000 of series 2013A-2 bonds due 2015 through 2017.

BofA Merrill Lynch is the bookrunner for the negotiated sale. Co-managers are Citigroup Global Markets Inc. and Wells Fargo Securities LLC.

Proceeds will be used to provide funds to refund and redeem outstanding COPs.

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