Arizona Sports and Tourism Authority to price $53.05 million revenue refunding bonds May 15

By Sheri Kasprzak

New York, May 7 - The Arizona Sports and Tourism Authority plans to price $53.05 million in series 2008 senior variable-rate demand revenue refunding bonds on May 15, the authority's chief financial officer, Chuck Foley, said Wednesday.

The bonds (A2//A-) will be sold on a negotiated basis with RBC Capital Market as the lead manager.

Proceeds will be used to refund the authority's $53.05 million in series 2005A variable-rate demand revenue bonds, which were used to construct and complete a multipurpose stadium in Maricopa County, Ariz.

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