Orlando, Fla., plans to price $68.41 million in revenue bonds, BABs

By Sheri Kasprzak

New York, Aug. 17 - The city of Orlando in Florida is set to sell $68.41 million in series 2009 capital improvement special revenue bonds, according to a preliminary official statement.

The sale includes $11.185 million in series 2009A revenue bonds, $16.445 million in series 2009B revenue bonds and $40.78 million in series 2009C taxable Build America Bonds.

The bonds (Aa3/AA-/AA) will be sold through senior managers Merrill Lynch & Co. Inc. and Loop Capital Markets LLC. The co-manager is Wells Fargo Securities Inc.

The 2009A bonds are due 2014 to 2022, the 2009B bonds are due 2017 to 2019 and the 2009C bonds are due 2029 and 2039.

Proceeds will be used to construct a new arena to replace the Amway Arena as the home of the Orlando Magic basketball team, as well as to construct a new performing arts center in downtown Orlando.

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