Orange County, Calif., to sell $235.77 million airport revenue bonds

By Sheri Kasprzak

New York, June 19 - Orange County in California is set to price $235.765 million in series 2009 airport revenue bonds in June, according to a preliminary official statement.

The sale includes $70.515 million in series 2009A bonds and $165.25 million in series 2009B bonds.

The bonds (Aa3/AA-/AA-) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. as the lead managers. The co-managers are Banc of America Securities LLC and J.P. Morgan Securities Inc.

The maturities have not yet been set.

Proceeds will be used to fund airport facilities and improvements, as well as to fund a debt service reserve fund.

The county seat of Orange County is Santa Ana, Calif.

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