Oklahoma Municipal Power delays sale of $105.77 million revenue bonds

By Cristal Cody

Tupelo, Miss., Oct. 16 - The Oklahoma Municipal Power Authority postponed a negotiated sale on Thursday of $105.765 million in revenue bonds because of soaring interest rates, a source told Prospect News.

The series 2008A bonds (A2/A/) have terms due 2029 and 2039.

J.P. Morgan Securities Inc. is the senior manager of the negotiated sale. Co-managers are BOSC Inc., a BOK Financial Corp. subsidiary, Capital West Securities Inc., Edward Jones and Wells, Nelson & Associates.

The proceeds will be used to finance a portion of construction and acquisition costs for an ownership interest in two electric generating plants and to fund other capital projects and interest on the bonds during the construction period.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.